PSX witnessed a huge rally, KMI-30 index rose by more than 5,000 points

Pakistan Stock Exchange witnessed a huge rally during trading today and KMI-30 index closed with a gain of more than 5,000 points.

According to the market report, KMI-30 index rose by 5,137.60 points to close at 242,349.77 points. The day witnessed heavy buying by investors, which led to the index touching a high of 243,013.88 points.

The trading day started at 240,051.33 points, which was also the day’s low. According to experts, the positive trend in the market was due to increasing investor confidence and buying pressure in key sectors.

The biggest gain in the market was seen in shares of Lucky Cement, which helped the index rise by 524.86 points. Fauji Fertilizer Company, HUBCO, Engro Holdings and Pakistan Petroleum Limited were also among the prominent stocks that provided strong support to the overall market.

According to the data, FFC gained 413.60 points, HUBCO gained 330.55 points, Engro Holdings gained 302.41 points, while PPL gained 277.13 points. On the other hand, Sazgar Engineering was the only company that had a negative impact on the market and lost 10.76 points from the index.

According to the Pakistan Stock Exchange, the KMI-30 index recorded a 2.17 percent increase today. 110.71 million shares were traded in the market, which shows strong interest from investors.

According to the report, the KMI-30 index has increased by 31.08 percent since the beginning of the financial year. However, the index is still down 2.49 percent on a calendar year basis.

Economists say that if the government’s economic policies continue, the Pakistan stock market can improve further. According to them, the IMF program, the stability of the rupee and a possible reduction in inflation are positive factors for the market.

On the other hand, investors are also keeping an eye on the situation in global markets as the increase in oil prices and global economic uncertainty can affect the local market.

According to analysts, if this buying trend continues, the KMI-30 index could reach new highs in the coming days.