The Pakistan Stock Exchange (PSX) experienced a notable upswing on Thursday, with a gain of 626.02 points.
The benchmark KSE-100 index closed at 44,178.85 points, reflecting a 1.44 percent increase compared to the previous day’s closing at 43,552.83 points. The total volume of trading reached 166,226,008 shares, indicating a robust level of market activity.
READ MORE: Pakistan Stocks End Flat at 43,553 Points, Consolidation Expected
This rise in the stock market came as a contrast to the Asia-Pacific region, where markets witnessed significant losses due to the U.S. Federal Reserve’s divided stance on pausing its rate hikes in June.
Among the various indices, the underperforming KSE-30 index performed exceptionally well, showcasing a growth of 1.75 percent. It remains the sole benchmark that has yet to surpass its January 2023 high of 16,000 points.
READ MORE: Pakistan Stocks Experience Decline of 342 Points in Profit-Taking
As market breadth improves, significant investments are expected to shift from struggling small-cap positions to well-established companies.
The pharmaceutical sector demonstrated remarkable strength today, followed closely by the energy sector. Notably, ENGRO PA experienced a substantial volume spike of 3.3 percent, recording its highest trading volume since April. This surge suggests a potential target price of PKR 300 in the near future.
Investors are advised to leverage this market strength to divest from smaller-cap holdings and instead focus on acquiring shares of prominent companies when they experience temporary declines.
READ MORE: Pakistan Stocks Witness Highest Ever Gain in Record-Breaking Bullish Day
