PSX SUMMARY: Pakistan’s stock market surged on Thursday, driven by strong gains in Fauji Fertilizer (FFC) shares. The benchmark KSE-100 Index closed the session at 82,721.76, marking an increase of 754.76 points or 0.92%.
Fauji Fertilizer soared 8.2% to reach Rs243.53, setting a new record. The boost in market sentiment was also attributed to the government’s recent decision to cut treasury yields to their lowest level since early 2022, adding optimism among investors.
The KSE-100 remained positive throughout the day, reaching an intraday high of 82,958.73 (+991.73) and a low of 81,981.50 (+14.50). The total volume traded on the KSE-100 Index was 159.63 million shares.
Top Performers:
- FFC (+8.22%)
- NML (+6.93%)
- FFBL (+5.98%)
- SRVI (+4.72%)
- PIBTL (+4.04%)
Top Decliners:
- MARI (-4.91%)
- TRG (-3.95%)
- KOSM (-3.71%)
- ATRL (-3.27%)
- KEL (-2.36%)
In terms of index contributions, the top companies pushing the index higher were:
- FFC (+413.46pts)
- EFERT (+63.91pts)
- PPL (+54.84pts)
- BAFL (+44.20pts)
- FFBL (+43.02pts)
Conversely, the companies that dragged the index down were:
- MARI (-164.67pts)
- TRG (-23.17pts)
- MCB (-20.53pts)
- ATRL (-14.55pts)
- NBP (-8.46pts)
Sector Performance: The KSE-100 Index was bolstered by gains in:
- Fertilizer (+551.49pts)
- Commercial Banks (+79.68pts)
- Cement (+67.63pts)
- Leather & Tanneries (+40.00pts)
- Investment Companies (+30.50pts)
Sectors that weighed on the index included:
- Oil & Gas Exploration (-44.15pts)
- Power Generation & Distribution (-19.59pts)
- Refinery (-17.25pts)
- Technology & Communication (-9.52pts)
- Pharmaceuticals (-9.19pts)
In the broader market, the All-Share Index rose by 243.43 points, closing at 52,565.66 with a 0.47% gain. Total market volume stood at 319.88 million shares, down from the previous session’s 360.99 million shares, while traded value increased to Rs16.41 billion.
Top trading symbols by volume were:
- WTL (23.24m)
- FCCL (21.63m)
- FFBL (15.26m)
- SLGL (11.93m)
- FLYNG (10.79m)
During the fiscal year, the KSE-100 has gained 4,277 points or 5.45%, while the ongoing calendar year has seen a cumulative increase of 20,271 points or 32.46%.
PAKISTAN MARKETS SUMMARY
The price of 24 karat gold per tola in Pakistan decreased by Rs. 1,100, settling at Rs. 274,400 on Thursday, down from Rs. 275,500 on the previous day, as reported by the All Sindh Sarafa Jewellers Association. Similarly, the price of 10 grams of 24 karat gold fell by Rs. 943, now standing at Rs. 235,254 compared to Rs. 236,197. The rate for 10 grams of 22 karat gold also saw a decline, priced at Rs. 215,650, down from Rs. 216,514.
In contrast, silver prices remained stable, with per tola silver priced at Rs. 3,050 and 10 grams selling for Rs. 2,614.88.
Globally, gold prices dropped by $11, bringing the international rate to $2,642 per ounce from the previous day’s $2,653. Gold (XAU/USD) is trading in the $2,640 range, below the recent record high of $2,685 set last week. The decline is tied to reduced expectations that the U.S. Federal Reserve will aggressively cut interest rates. As a non-interest-bearing asset, gold tends to lose its appeal when the pace of rate cuts slows.
Meanwhile, the Pakistani rupee (PKR) depreciated by 10.49 paisa, or 0.04%, against the US dollar in Thursday’s interbank market, closing at PKR 277.74 per USD compared to PKR 277.64 from the previous session. During the day, the PKR traded within an intraday range of 277.85 (high bid) and 277.75 (low ask).
