KSE-100 Surpasses 50,000 Mark, Boosted by Oil and Gas and Auto Sectors

Karachi, In a display of significant market vitality, the KSE-100 index soared past the 50,000 mark, recording a substantial gain of 934 points to conclude at 50,365. According to a research report by JS Securities Limited, the rally witnessed widespread participation but was primarily spearheaded by the Oil and Gas and Auto sectors.

Stocks such as PSO, SNGP, GAL, GHNI, PSMC, and SAZEW played a pivotal role in this rally, each registering an impressive closure at their respective upper locks, with an increase of 7.5%, save for GAL which closed at a 7.1% hike. As the trading day unfolded, the market turnover swelled to 427 million shares. Stocks that emerged as volume leaders included KEL, which saw a surge of 9.4%, PRL with a 3.6% increase, PPL climbing by 7.1%, and OGDC growing by 4.4%. Conversely, WTL experienced a slight dip, marking a 0.8% decline.

Despite the significant leap, market analysts anticipate the continuation of this bullish trajectory, albeit with periods of profit realization interjected. The prevailing market sentiment seems to be inclined towards a sustained positive momentum in the coming trading sessions.

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