Pakistan’s stock market opened on a positive note on Thursday, buoyed by macroeconomic stability; however, by the close, the bears took control, dragging the index into negative territory. The benchmark KSE-100 Index ended the day at 81,657.96, down 589.95 points or 0.72%.
MARKET PERFORMANCE
The KSE-100 traded within a range of 1,353.07 points, reaching an intraday high of 82,905.73 (+657.82 points) and a low of 81,552.66 (-695.25 points). The total volume of shares traded on the KSE-100 was 152.66 million.
The market’s early gains were supported by the recent approval from the International Monetary Fund (IMF) of a 37-month Extended Fund Facility (EFF) for Pakistan worth SDR 5,320 million (around $7 billion), with an immediate disbursement of SDR 760 million (roughly $1 billion). Despite the positive macroeconomic news, investor sentiment weakened, leading to a late-session selloff.
TOP PERFORMING AND LOSING STOCKS
- Top Gainers:
- KTML (+4.80%)
- AKBL (+4.59%)
- SRVI (+3.38%)
- HGFA (+2.95%)
- ABOT (+2.34%)
- Top Losers:
- ILP (-6.76%)
- PKGP (-5.35%)
- GLAXO (-4.84%)
- NCPL (-4.82%)
- YOUW (-4.54%)
SECTOR-WISE PERFORMANCE
The sectors that dragged the index lower included:
- Power Generation & Distribution: -213.24 points
- Fertilizer: -182.63 points
- Technology & Communication: -53.36 points
- Oil & Gas Exploration: -47.54 points
- Textile Composite: -38.74 points
In contrast, the following sectors provided some support:
- Leather & Tanneries: +26.84 points
- Paper, Board & Packaging: +8.82 points
- Glass & Ceramics: +6.64 points
- Refinery: +5.93 points
- Real Estate Investment Trust: +4.68 points
INDEX CONTRIBUTIONS
Companies that contributed most to the index decline included:
- HUBC (-160.21 points)
- FFC (-125.64 points)
- UBL (-63.53 points)
- ILP (-45.89 points)
- MARI (-33.64 points)
Meanwhile, companies adding positive points were:
- SRVI (+26.84 points)
- BAFL (+25.95 points)
- POL (+22.53 points)
- BAHL (+22.40 points)
- NBP (+21.75 points)
BROADER MARKET OVERVIEW
The broader All-Share Index also closed in the red, down 348.44 points or 0.66%, closing at 52,269.81. The total market volume stood at 423.94 million shares, slightly up from the previous session’s 422.16 million. Traded value, however, declined to Rs17.67 billion, a drop of Rs0.71 billion from the previous session.
Out of 444 companies, 125 closed up, 263 closed down, and 56 remained unchanged.
TOP TEN BY VOLUME
- PIAHCLA: 20.91 (-5.21%), 36,327,627 shares
- WTL: 1.23 (-1.60%), 33,114,742 shares
- KOSM: 8.28 (-7.17%), 25,821,689 shares
- TRG: 54.99 (-3.02%), 17,036,463 shares
- PACE: 5.46 (-7.61%), 15,099,404 shares
- KEL: 3.84 (-4.48%), 14,153,374 shares
- SLGL: 17.73 (+3.08%), 12,812,927 shares
- FCCL: 25.35 (+1.44%), 11,949,523 shares
- HUBC: 123.12 (-3.97%), 9,988,276 shares
- OGDC: 143.56 (-0.50%), 9,855,544 shares
MARKET PERFORMANCE FOR THE YEAR
The KSE-100 has gained 3,213 points or 4.10% during the fiscal year, while the ongoing calendar year has seen a cumulative increase of 19,207 points, translating to a 30.76% gain.
PAKISTANI RUPEE STRENGTHENS SLIGHTLY AGAINST US DOLLAR IN INTERBANK MARKET
The Pakistani Rupee (PKR) appreciated by 15.92 paisa or 0.06% against the US Dollar (USD) during Thursday’s interbank session, closing at PKR 277.69 per USD compared to the previous day’s closing rate of PKR 277.85. Throughout the trading day, the PKR witnessed an intraday high of PKR 277.8 (bid) and a low of PKR 277.55 (ask).
This slight appreciation reflects the Pakistani rupee’s resilience amid positive macroeconomic developments, including the finalization of Pakistan’s latest loan arrangement with the International Monetary Fund (IMF).
GOLD PRICES HIT RECORD HIGH IN PAKISTAN AMID GLOBAL SURGE
Gold prices in Pakistan surged once again on Thursday, continuing their upward trajectory, driven by rising international rates. The price of gold per tola increased by Rs1,500, hitting a record high of Rs277,000, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Similarly, 10-gram gold was sold at Rs237,482, reflecting an increase of Rs1,285. This significant rise is attributed to escalating geopolitical tensions, a weakening US dollar, and heightened demand for safe-haven assets in international markets.
