The KSE-100 Index extended its rally on Friday, closing at 93,291.68, up 771.20 points (0.83%) as macroeconomic optimism and lower interest rates fueled investor enthusiasm. The index traded positively all day, reaching an intraday high of 93,514.55 (+994.07 points), setting a new record.
Key Index Movers
- Top Gainers: Leading gains were PIBTL (+15.97%), BNWM (+9.99%), NCPL (+9.97%), ATRL (+8.68%), and HGFA (+6.35%).
- Top Losers: Decliners included KOSM (-2.81%), JVDC (-2.54%), PGLC (-2.22%), SRVI (-2.21%), and JDWS (-2.12%).
Notable Sector Contributions
- Supporting Sectors: The Oil & Gas Exploration sector led gains (+311.25 points), followed by Power Generation & Distribution (+132.93 points), Fertilizer (+106.59 points), Oil & Gas Marketing (+88.57 points), and Refinery (+64.49 points).
- Lagging Sectors: Weakness was seen in Commercial Banks (-79.40 points), Cement (-31.96 points), Leather & Tanneries (-17.80 points), Investment Banks/Securities (-6.65 points), and Insurance (-6.15 points).
Broader Market Performance
- The All-Share Index rose by 530.35 points (0.90%) to close at 59,401.09.
- Total Market Volume: 763.26 million shares, up from 678.79 million in the previous session.
- Traded Value: Rs30.21 billion, reflecting an increase of Rs5.38 billion.
Most Active Stocks by Volume
- BOP: 6.76 PKR, +2.89%, 66.48 million shares
- WTL: 1.27 PKR, +3.25%, 51.31 million shares
- PAEL: 26.86 PKR, +6.17%, 44.16 million shares
- PIBTL: 7.26 PKR, +15.97%, 33.96 million shares
- FLYNG: 24.56 PKR, -5.10%, 33.01 million shares
Fiscal Year and Calendar Year Gains
- Fiscal Year: KSE-100 has gained 14,847 points (18.93%).
- Calendar Year: KSE-100 is up 30,841 points (49.38%).
Outlook
Investors continue to show confidence in the KSE-100, bolstered by strong macroeconomic indicators and lower interest rates, which are encouraging more capital flow into equities. Key sectors, particularly oil, gas, and power, are expected to maintain upward momentum as positive economic sentiment sustains.
PAKISTAN MARKETS
The Pakistani Rupee (PKR) appreciated by 0.08% (20.87 paisa) against the US dollar on Friday, closing at PKR 277.74 per USD in the interbank market. The currency strengthened due to positive sentiment driven by a reported 23.91% increase in workers’ remittances in October, amounting to $3.052 billion, which supports Pakistan’s macroeconomic stability.
After a sharp decline on Thursday, 24-karat gold prices in Pakistan rebounded by Rs2,000 on Friday, bringing the price to Rs278,800 per tola. This recovery follows a 25 basis point rate cut by the US Federal Reserve, which eased the opportunity cost of holding non-yielding assets like gold. This dovish shift in Fed policy has sparked renewed interest in bullion despite pressure from a stronger US dollar.
Internationally, spot gold gained 1.79% to settle at $2,706 per ounce, a sign of underlying support from safe-haven buying and the Fed’s recent dovish tone. However, in early European trading on Friday, gold prices (XAU/USD) slipped slightly to the $2,680 region amid the strong dollar and risk-on sentiment in equity markets.
