The Pakistan Stock Exchange (PSX) witnessed a notable uplift in the KSE-100 index, closing Monday’s session at 63,305.93, up by 490.12 points or 0.78%. This surge in the market is attributed to increased clarity on the political landscape and robust corporate earnings, instilling a renewed sense of optimism among investors.

INTRADAY HIGHLIGHTS AND SECTORAL PERFORMANCE

Throughout the trading session, the KSE-100 index maintained a positive trajectory, reaching an intraday high of 63,732.50, thanks to contributions across multiple sectors. Leading the charge were Commercial Banks, adding 193.6 points to the index, followed by significant gains in Technology & Communication, Cement, Power Generation & Distribution, and the Refinery sector. These sectors reflect the diverse strength of Pakistan’s corporate landscape, driving the market’s upward movement.

Conversely, certain sectors faced challenges, with Miscellaneous, Investment Banks/Investment Companies/Securities Companies, Food & Personal Care Products, Close–End Mutual Fund, and Cable & Electrical Goods sectors experiencing declines. These adjustments highlight the market’s dynamic nature and the shifting investor focus towards more lucrative opportunities.

 

PSX Closing Summary as of Feb 26, 2024, 4:14 PM
AttributeValue
Closing Summary63,305.93 up 490.12 (0.78%)
High63,732.50
Low62,915.39
Volume221,451,225
1-Year Change55.51%
YTD Change-2.10%
Previous Close62,815.81
Day Range62,915.39 — 63,732.50
52-Week Range39,482.17 — 67,093.96

This table below provides a focused view on the price movements and changes of the day’s top active stocks in the Pakistan Stock Market based on highest volume traded today.

Market Performers – Top Active Stocks 
SymbolPriceChange
KEL4.440.05 (1.14%)
KOSM4.57-0.02 (-0.44%)
WTL1.310.01 (0.77%)
PRL27.911.07 (3.99%)
CNERGY4.150.18 (4.53%)
AIRLINK61.493.26 (5.60%)
OGDC125.01-0.20 (-0.16%)
UNITY21.911.44 (7.03%)
PPL108.21-0.86 (-0.79%)
PIBTL6.480.31 (5.02%)

 

ELECTIONS BRING A WAVE OF OPTIMISM TO FINANCIAL MARKETS

The culmination of the long-anticipated general elections has sparked a notable wave of optimism within Pakistan’s financial markets. This positive shift comes as a breath of fresh air after the Pakistani Rupee (PKR) experienced a period of stability that was abruptly interrupted by persistent fluctuations against the US Dollar (USD) in the past week. The political unrest following the elections on February 8 had cast a shadow over the financial stability of the nation, triggering uncertainty in currency markets.

TOP CONTRIBUTORS AND DETRACTORS

The positive momentum of the KSE-100 index was significantly influenced by key players such as POL, MEBL, SYS, BAFL, and HUBC, which were among the top contributors. On the other hand, PSEL, NESTLE, PPL, DAWH, and GHGL were identified as the primary companies that impacted the index negatively, reflecting the competitive and ever-evolving market environment.

BROADER MARKET OVERVIEW

The broader market also mirrored the optimistic sentiment, with the All-Share index closing at 42,361, marking a net gain of 232 points. The trading volume saw a considerable increase, indicating heightened investor activity and confidence in the market’s direction. The total market volume stood at 452.869 million shares, with traded value reaching Rs16.49 billion, underscoring the vibrant trading atmosphere.

 

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