Why KMI-30 Exploded Nearly 4,000 Points in One Day at PSX

The Pakistan Stock Exchange (PSX) recorded a strong performance today, gaining nearly 4,000 points. The index closed at 250,496 points, which is considered a major development for investors.

So why did the market rally so much?

According to market experts, the most important factor behind the rally was strong buying in large Sharia-compliant companies. The fertilizer sector in particular played a major role in taking the market to new heights.

Fauji Fertilizer Company (FFC) proved to be the biggest “puller” today, gaining 1,169 points alone. Engro, Lucky Cement, Engro Fertilizer and Mari Petroleum also played a significant role in taking the market higher.

Interestingly, although stocks like PPL, Systems Limited and Attock Refinery put pressure on the index, the overall buying trend in the market was so strong that the negative effects could not last long.

The trading volume of over 141 million shares in the market indicates that not only large institutional investors but also retail traders were active. The increasing use of digital trading apps and online brokerage platforms has also improved liquidity in the market.

According to experts, if the upcoming budget brings positive measures for the business and industrial sectors, the KMI-30 index can touch further record levels.