PSX Sets New Record, KSE-100 Crosses 118,000 Points in Intra-Day Trading
The Pakistan Stock Exchange (PSX) reached a new milestone as the benchmark KSE-100 Index surged past the 118,000-point mark during intra-day trading on Thursday.
Investor optimism pushed the index to a peak of 118,367.81 before shares saw a slight dip, closing at 117,911.83. The day’s low was recorded at 117,065.97.
Trading activity remained robust, with a total volume of 142.83 million shares exchanged, valued at Rs11.31 billion. The previous day’s close stood at 117,008.08.
The recent upward momentum in the KSE-100 Index is attributed to strong corporate earnings and positive economic developments.
PSX Kicks Off New Year with Record Surge
On Wednesday, the PSX marked the start of the new year with a record high, as the KSE-100 Index soared nearly 1,900 points. This performance was driven by extensive buying, reflecting investor confidence in Pakistan’s economic prospects.
Contributing factors included easing monetary policy, political stability, expectations of further reductions in the State Bank of Pakistan’s (SBP) policy rate, lower inflation, and rupee stability.
According to Arif Habib Corp MD Ahsan Mehanti, the rally was fueled by robust economic indicators, IMF disbursements, and an external account surplus. Surging exports and higher global oil prices also played a significant role in the bullish trend.
The benchmark KSE-100 Index closed on Wednesday at 117,008.08, gaining 1,881.18 points (1.63%). Topline Securities noted significant contributions from Fauji Fertiliser, Lucky Cement, Hub Power, Habib Metropolitan Bank, and Millat Tractors, which collectively added 936 points to the gains.
Arif Habib Limited (AHL) highlighted the KSE-100’s fresh all-time high, driven by strong local institutional buying and positive sentiment around macroeconomic stability.
Sectoral Performance and Market Leaders
Among the top contributors were Fauji Fertiliser (+3.49%), Lucky Cement (+7.92%), and Hub Power (+3.11%). However, Dawood Hercules Corporation (-2.54%), Mehmood Textile Mills (-7.54%), and Service Industries (-2.46%) dragged the index down.
Economic Indicators and Outlook
The Consumer Price Index (CPI) for December 2024 rose by 4.1%, marking the lowest increase since April 2018. Inflation for the first half of FY25 averaged 7.2%, compared to 28.8% in the same period last year.
Additionally, the government unveiled a five-year economic plan targeting 6% growth and $50 billion in exports.
JS Global analyst Muhammad Hasan Ather emphasized that improved macroeconomic indicators, especially lower inflation expectations, contributed to the positive sentiment. With monetary easing and political stability, the market outlook remains optimistic, signaling continued investor confidence and potential growth in the coming months.
Trading Volume and Activity
Overall trading volumes stood at 956.3 million shares, lower than Tuesday’s 1.24 billion. Shares of 462 companies were traded, with 258 closing higher, 161 declining, and 43 remaining unchanged.
Cnergyico PK led in trading volume with 72 million shares, losing Rs0.19 to close at Rs7.66. It was followed by Pakistan International Bulk Terminal with 62.8 million shares, closing at Rs9.30, and The Bank of Punjab with 45.4 million shares, closing at Rs10.96.
Foreign investors sold shares worth Rs333.1 million, according to the National Clearing Company of Pakistan.
