The benchmark KSE-100 Index concluded Monday’s trading session at 90,195.51, reflecting a modest increase of 201.55 points or 0.22%. The index demonstrated notable volatility, trading within a range of 1,322.10 points, peaking at an intraday high of 91,054.83 (+1,060.87) and dipping to a low of 89,732.73 (-261.23).
Market Overview
The total volume for the KSE-100 Index reached 267.24 million shares. Out of the 100 index companies, 43 closed in the green, 54 in the red, 2 remained unchanged, and 1 was untraded.
Top Gainers:
- PGLC: +10.75%
- GLAXO: +10.00%
- FCEPL: +10.00%
- PKGP: +7.93%
- COLG: +6.81%
Top Losers:
- GHGL: -5.22%
- KEL: -4.80%
- INIL: -4.57%
- PKGS: -4.30%
- EFUG: -4.24%
Index Contributions
In terms of index-point contributions, the following companies made significant positive impacts:
- SYS: +105.81 points
- COLG: +65.32 points
- PSO: +61.26 points
- POL: +58.21 points
- PPL: +50.43 points
Conversely, the following companies dragged the index lower:
- FFC: -139.04 points
- EFERT: -66.29 points
- MTL: -46.72 points
- MARI: -46.01 points
- HUBC: -41.11 points
Sector Performance
Sector-wise, the KSE-100 Index was buoyed by:
- Commercial Banks: +126.53 points
- Food & Personal Care Products: +102.87 points
- Technology & Communication: +95.78 points
- Oil & Gas Marketing Companies: +85.05 points
- Pharmaceuticals: +71.16 points
However, it faced challenges from:
- Fertilizer: -221.78 points
- Refinery: -24.73 points
- Glass & Ceramics: -20.50 points
- Leather & Tanneries: -18.72 points
- Paper, Board & Packaging: -17.28 points
Broader Market Activity
In the broader market, the All-Share Index closed at 57,651.29, with a net gain of 189.76 points or 0.33%. The total market volume amounted to 567.26 million shares, a decrease from the previous session’s 695.54 million. The traded value was recorded at Rs. 29.21 billion, reflecting a decline of Rs. 8.66 billion.
A total of 312,679 trades were reported across 456 companies, with 179 closing up, 222 closing down, and 55 remaining unchanged.
Key Metrics Table
| Metric | Value |
|---|---|
| KSE-100 Closing | 90,195.51 |
| Points Change | +201.55 |
| Percentage Change | +0.22% |
| Intraday High | 91,054.83 |
| Intraday Low | 89,732.73 |
| Total Volume (KSE-100) | 267.24 million shares |
| Gainers | 43 |
| Losers | 54 |
| Unchanged | 2 |
| Untraded | 1 |
| All-Share Index Closing | 57,651.29 |
| All-Share Index Gain | +189.76 |
| Market Volume (Total) | 567.26 million shares |
| Traded Value | Rs. 29.21 billion |
| KSE-100 Year-to-Date Gain | +27,744 points (44.43%) |
| KSE-100 Fiscal Year Gain | +11,751 points (14.98%) |
The KSE-100 has shown resilience in the face of market fluctuations, gaining 11,751 points or 14.98% during the current fiscal year and an impressive 27,744 points or 44.43% so far this calendar year.
PAKISTAN MARKET NEWS
In the interbank session on Friday, the Pakistani rupee (PKR) appreciated by 20 paisa, or 0.07%, against the US dollar, settling at PKR 277.64 per USD. This marks a slight improvement from the previous closing rate of PKR 277.84. During the trading day, the currency experienced an intraday high (bid) of PKR 277.70 and a low (ask) of PKR 277.50.
Gold Prices in Pakistan: A Notable Decline
The price of 24 karat gold in Pakistan saw a significant decrease of Rs. 900 per tola, settling at Rs. 283,400 on Monday compared to Rs. 284,300 in the last trading session. Similarly, the price of 10 grams of 24 karat gold dropped by Rs. 771, moving down to Rs. 242,970 from Rs. 243,741. The price of 10 grams of 22 karat gold also declined to Rs. 222,722from Rs. 223,430, as reported by the All Sindh Sarafa Jewellers Association. Notably, the prices of silver remained stable, with per tola silver priced at Rs. 3,350 and 10 grams at Rs. 2,872.08.
International Gold Market Trends
In the international market, gold (XAU/USD) fell by over 0.5%, trading in the $2,730 range on Monday, reflecting ongoing market fluctuations. This decline is largely attributed to reports indicating softening demand from China, the world’s largest gold consumer. Data from the China Gold Association revealed that total gold consumption dropped 11.18% in the first three quarters of 2024 compared to the same period last year.
Despite the decline in prices, the precious metal retained some support from safe-haven flows due to escalating geopolitical tensions in the Middle East. Over the weekend, Israeli airstrikes targeted military installations in Iran, carefully avoiding critical oil and nuclear facilities. This strategic restraint somewhat alleviated concerns over potential supply disruptions.
Market Outlook
Adding to the complexity of the gold market are uncertainties surrounding the upcoming US presidential election and a general downtrend in global interest rates. These factors have made gold increasingly attractive as a non-interest-bearing asset, appealing to investors seeking a safe haven amid market volatility.
Summary
The recent performance of the PKR and the decline in gold prices reflect broader economic trends and geopolitical factors influencing the market. The PKR’s slight appreciation suggests a stable currency environment, while the gold market remains sensitive to changes in demand and external events. As investors navigate these dynamics, the focus will remain on economic indicators and geopolitical developments that could impact future market movements.
