read text file and insert into mysql php - php

Question

I have huge text file and I am trying to read and insert this line by line.
this is txt file data.
'REG','KOIL','Kohinoor Industries Ltd.','READY',4.82,2.82,3.82
'REG','EPQL','Engro Powergen Qadirpur Ltd.','READY',36.9495,33.4305,35.19
Function for insert data
$file_path =FCPATH.'uploads/text/'.$file_name;
$psx_date=$this->input->post('file_date');
$open=fopen($file_path,"r");
$i=1;
while(!feof($open)){
$line=fgets($open);
if($i>2){
$values = explode(",",$line);
$psx_symbol=str_replace('\'',null,$values[1]);
$no_of_rows=read_psx_where($psx_symbol,$psx_date);
if($no_of_rows<=0){
$psx_data=array(
'PSX_SYMBOL' => $psx_symbol,
'PSX_DATE' => $psx_date,
'PSX_HIGH' => $values[4],
'PSX_LOW' => $values[5],
'PSX_CLOSE' => $values[6],
'PSX_DATETIME' => date('Y-m-d H:i:s'),
'PSX_SATUS' => 1
);
insert_psx_data($psx_data);
}
}
$i++;
}
fclose($open);
I am first skip first two lines of test file and then I am checking if same symbol is already exist so then skip this line.
This method is working but too much slowdown and exceeding max exectution time.