From The News: 2024-04-03 18:27:45

The Pakistan Stock Exchange reached a new record high thanks to optimism after the government announced plans for privatisation. The benchmark KSE 100-share index jumped 1.30% to close at 67,756.04 points. The bullish trend was supported by positive data on various sectors, driving trading volume up to 361.823 million shares. Major contributors were cement and steel companies like MLCF, FCCL, and DGKC, with the day’s biggest gainers including Hallmark Company Limited and Lucky Cement Limited. The market expects strong performance in the cement and steel sectors in the second quarter.

Investors in the Pakistan Stock Exchange witnessed a bullish close as the market hit an all-time high. Several factors contributed to the record-setting day, including positive data on cement sales, POL sales, and textile exports in March. Market capital expanded, with 208 companies closing in the green, 108 in red, and 24 unchanged. The upbeat performance signals promising prospects for investors, particularly in the cement and steel sectors.

The market’s bullish trend was driven by optimism over the government’s plans for privatisation. The benchmark KSE 100-share index gained 869.77 points to close at 67,756.04 points, with the highest index of the day reaching 67,873.22 points. Positive data on various sectors, including a surge in global crude oil prices, bolstered investor confidence. Traded shares increased to 361.823 million shares, with the highest increase seen in Hallmark Company Limited shares.



Read more at The News: Stocks hit record high on steel and cement rally