ISLAMABAD, Aug. 11 (Xinhua) -- The Pakistan Stock Exchange (PSX) surged to a fresh all-time peak on Thursday as investors took keen interest in United Bank Limited (UBL) and Pakistan Petroleum Limited (PPL) which also resulted in above par market participation.
The Pakistan Stock Exchange's benchmark KSE 100-Index gained 0.14 percent or 55.72 points to 39,861.60 points on Thursday when compared with a previous all-time peak of 39,805.88 points recorded on Wednesday.
The KSE All-Share Index increased by 0.1 percent or 25.80 points to 26,510.11, the KSE 30-Index swelled by 0.17 percent or 38.85 points to 22,888.40, the KMI 30-Index bucked the overall bullish trend with a 0.18- percent or 126.63 points decline to 69,959.40 points, whereas the Islamic All-Share Index moved up slightly by 0.11 percent or 20.03 points to 18,502.85 points.
During Thursday's trading session, the main index moved in a narrow range of 168.90 points as it touched an all-time intraday high of 39,911.94 as against an intraday low of 39,743.04.
The top local bourse hovered around its highest-ever level throughout the day before closing with a 56-point advance. A renewed interest in United Bank Limited (UBL) helped the scrip to hit its upper limit during intraday trade before it closed with a 3.9 percent increment.
As Pakistan Petroleum Limited (PPL) announced its startup and commissioning of its second gas facility from Gambat South, the stock led interest to gain by 1.2 percent, despite bearish international oil market, which forced Pakistan Oilfields Limited (POL) and Oil and Gas Development Company (OGDC) to skid lower by 1.4 percent and 0.7 percent, respectively.
Market volumes improved by 58.99 percent or 142.857 million shares to 385.014 million shares on Thursday as against 242.156 million shares reported on Wednesday. This is the highest single day turnover since May 20, 2016 when the PSX posted trading of 394.920 million shares.
Market capitalization ballooned by 0.1 percent or 7.68 billion rupees (75.295 million U.S. dollars) to 7.94 trillion rupees (77.848 billion dollars) whereas trade value surged by 7.66 percent or 944.672 million rupees (9.261 million dollars) to 13.271 billion rupees (130.114 million dollars).
Among 397 active scrips on Thursday, prices of 190 issues advanced, 186 depleted, whereas values of 21 other companies stayed unchanged.
Karachi Electric Limited, Dewan Salman, and Dewan Cement were the top traded companies with turnovers of 110.103 million shares, 37.682 million shares, and 21.092 million shares, respectively.
Rafhan Maize emerged as the top price gainer with an advance of 166.43 rupees (1.63 dollars) to 7,477.43 rupees (73.31 dollars) while on the other hand Philip Morris Pakistan led the major price decliners with a depletion of 58.87 rupees (57.72 cents) to 1,411.13 rupees (13.83 dollars).
