PSX extends record rally for seventh session
The Pakistan Stock Exchange (PSX) continued its record-setting streak for a seventh consecutive session on Wednesday, as investor enthusiasm remained strong. The market saw a tussle between bulls and bears during the early hours, with the index fluctuating between a high of 915 points and a low of 484 points. By the close, the bulls took charge, pushing the benchmark KSE-100 index to 157,020.80, up by 457.27 points or 0.29 per cent. Investor confidence was buoyed by strong flows into market heavyweights like Engro Fertiliser, Pakistan Petroleum Ltd, and Mari Energies, adding 363 points to the index. However, stocks such as Engro Holdings and Habib Bank weighed down the market, subtracting 316 points. According to Topline Securities, a notable development was the overwhelming success of Image Reit’s book-building, which was fully subscribed in just 90 minutes and is already 1.15 times oversubscribed.