PSX 100-index hits record high, Nestle and Sazgar stocks fluctuate

The Pakistan Stock Exchange (PSX) witnessed a positive trend on Friday, with the 100-index surging by 498.61 points, representing a 0.65 percent increase and closing at an all-time high of 76,706.77 points. This remarkable rise from the previous day's closing of 76,208.16 points indicates a bullish market sentiment.

During the trading session, a total of 395,897,996 shares valued at Rs.21.366 billion were traded, although this volume was lower than the previous day's trading activity. A diverse range of 439 companies actively participated in the stock market, with 160 companies recording gains, 205 facing losses, and 74 maintaining stable share prices.

Key players in the trading arena included K-Electric Ltd, WorldCall Telecom, and Air Link Communications. Noteworthy movements were observed in the share prices of Nestle Pakistan Limited, which saw a substantial increase of Rs.89.24 per share, closing at Rs.7,097.92, and Hoechst Pakistan Limited, which experienced a rise of Rs.49.79 per share to reach Rs.1,598.99.

Conversely, Sazgar Engineering Works Limited witnessed a decline of Rs.50.66 per share, closing at Rs.802.06, while Pakistan Services Limited saw a decrease of Rs.38.48 per share, ending the day at Rs.804.40.

The positive momentum in the Pakistan Stock Exchange reflects investor confidence and market resilience. With notable fluctuations in share prices and trading volumes, the stock market continues to be a dynamic platform for investment opportunities. Investors are advised to stay informed about market trends and company performances to make well-informed decisions in the ever-evolving financial landscape.