The Pakistan Stock Exchange (PSX) continued its upward momentum today, with the benchmark KSE-100 Index closing at an all-time high of 88,945 points, marking its 43rd record close this year. The index gained 1,751.45 points, or 2.01%, driven by positive investor sentiment fueled by improving macroeconomic indicators and expectations of a further cut in the policy rate.
Throughout the trading session, the KSE-100 Index remained positive, reaching an intraday high of 89,126.15 points and a low of 87,382.04 points. The total volume traded on the KSE-100 was 458.05 million shares.
Macroeconomic Improvements Boost Sentiment
Investor confidence was boosted by reports of continued economic stabilization. The current account posted its second consecutive monthly surplus, supported by a surge in home remittances. During the first three months of the current fiscal year, the current account deficit narrowed significantly by 92% to $98 million, down from $1.24 billion during the same period last year.
In addition, Pakistan attracted $385 million in foreign direct investment (FDI) in September, reflecting an 81% increase compared to the same period last year, signaling growing foreign interest in the country.
Top Performers of the Day
Out of the 100 index companies, 60 closed in the green, 36 declined, and 4 remained unchanged. The top gainers included:
• PAKT: +10.00%
• AICL: +9.99%
• TRG: +9.80%
• FCEPL: +7.17%
• FFC: +6.70%
Conversely, the top losers were:
• KOSM: -4.01%
• RMPL: -3.72%
• ILP: -2.74%
• NESTLE: -2.31%
• MUGHAL: -2.04%
Index-Point Contributions
The companies that contributed the most to the KSE-100’s rise included:
• FFC: +386.89 points
• UBL: +247.38 points
• OGDC: +128.54 points
• EFERT: +90.86 points
• MCB: +82.10 points
On the downside, companies that pulled the index lower were:
• SYS: -39.29 points
• ILP: -17.71 points
• MARI: -14.71 points
• NBP: -13.79 points
• NESTLE: -11.47 points
Sector-Wise Performance
Sector-wise, the KSE-100 was bolstered by:
• Fertilizer: +587.90 points
• Commercial Banks: +451.90 points
• Cement: +206.40 points
• Oil & Gas Exploration Companies: +188.66 points
• Oil & Gas Marketing Companies: +74.58 points
The sectors that contributed negatively included:
• Textile Composite: -15.81 points
• Engineering: -13.32 points
• Investment Banks/Securities Companies: -9.12 points
• Paper, Board & Packaging: -4.47 points
• Sugar & Allied Industries: -2.79 points
All-Share Index and Broader Market Performance
The broader All-Share Index closed with a gain of 886.02 points or 1.58%, settling at 56,965.70 points. Total market volume reached 757.65 million shares, up from 699.29 million in the previous session. The traded value for the day stood at Rs36.05 billion, an increase of Rs9.22 billion. A total of 340,461 trades were reported across 453 companies, with 237 closing up, 167 down, and 49 unchanged.
Top Volume Leaders
The highest volumes were recorded in:
• KEL: 113.20 million shares, +3.21%
• PTC: 41.11 million shares, +6.21%
• FCCL: 23.27 million shares, +3.73%
• TRG: 22.99 million shares, +9.80%
• MLCF: 22.96 million shares, -1.60%
Year-to-Date Performance
The KSE-100 Index has gained 10,501 points, or 13.39%, during the fiscal year. On a calendar year basis, the index has surged by 26,495 points, marking an impressive 42.43% increase so far in 2024.
The Pakistan Stock Market continues to rally on the back of strong macroeconomic improvements, with investors maintaining a bullish outlook for the near term.
