Based on the positive sentiment generated by Moody’s Investors Service’s upgrade yesterday, today’s session on the Pakistan Stock Market was upbeat. The benchmark KSE-100 Index surged by 356.88 points or 0.46%, closing at 78,349.66. The index maintained a positive trajectory throughout the day, reaching an intraday high of 78,513.85(+521.07 points) and a low of 78,017.35 (+24.57 points).
Moody’s Investors Service has upgraded Pakistan’s long-term issuer rating from “Caa3” to “Caa2” with a positive outlook, following Fitch Ratings’ recent upgrade of the country’s credit rating from “CCC” to “CCC+”. This improvement reflects better macroeconomic conditions and a moderately enhanced government external position, reducing Pakistan’s default risk to a level consistent with a Caa2 rating.
Key factors contributing to the upgrade include greater certainty in external financing, following Pakistan’s agreement with the IMF on a $7 billion Extended Fund Facility (EFF) and a notable increase in foreign exchange reserves. However, Pakistan still faces significant challenges, such as very weak debt affordability and continued reliance on external financing.
The positive outlook suggests the potential for further risk reduction if Pakistan successfully implements reforms and maintains its IMF commitments. Moody’s also raised Pakistan’s local and foreign currency country ceilings, reflecting ongoing economic vulnerabilities and policy challenges. The upgrade extends to the Pakistan Global Sukuk Programme Co Ltd, with a positive outlook for this entity as well.
TRADING VOLUME AND MARKET PERFORMANCE
The total trading volume for the KSE-100 Index was 151.39 million shares. Moody’s upgrade, which reflects Pakistan’s improved macroeconomic conditions and moderately better government external positions, played a significant role in boosting investor confidence.
Out of the 100 index companies, 49 closed up, 49 closed down, and 2 remained unchanged.
TOP GAINERS AND LOSERS
- Top Gainers:
- MTL (+9.68%)
- NBP (+8.96%)
- COLG (+7.78%)
- PABC (+5.51%)
- PSEL (+5.49%)
- Top Losers:
- AKBL (-4.71%)
- AVN (-4.23%)
- BOP (-3.74%)
- SHFA (-3.44%)
- BWCL (-2.52%)
INDEX POINT CONTRIBUTIONS
Companies that contributed positively to the index included:
- MTL (+136.64 points)
- ENGRO (+109.69 points)
- NBP (+77.12 points)
- COLG (+68.37 points)
- HUBC (+46.10 points)
Conversely, companies that dragged the index lower were:
- MEBL (-34.98 points)
- SYS (-34.75 points)
- EFERT (-27.32 points)
- MARI (-18.42 points)
- AKBL (-16.98 points)
SECTOR PERFORMANCE
The KSE-100 Index was supported by strong performances in the following sectors:
- Automobile Assembler (+138.32 points)
- Fertilizer (+114.01 points)
- Food & Personal Care Products (+67.54 points)
- Power Generation & Distribution (+35.14 points)
- Miscellaneous (+34.70 points)
However, the index faced downward pressure from:
- Technology & Communication (-51.00 points)
- Oil & Gas Exploration Companies (-19.73 points)
- Textile Composite (-9.88 points)
- Tobacco (-7.88 points)
- Cement (-4.78 points)
TOP TEN MOST ACTIVE STOCKS BY VOLUME IN PAKISTAN STOCK MARKET TODAY
SYMBOLS WITH HIGHEST TRADING VOLUME
- SYM
- Price: 8.57
- Change %: 13.21%
- Volume: 64,297,326 shares
- NBP (National Bank of Pakistan)
- Price: 57.53
- Change %: 8.96%
- Volume: 42,591,637 shares
- KOSM
- Price: 11.69
- Change %: 2.19%
- Volume: 41,140,347 shares
- SLGL
- Price: 14.88
- Change %: 9.98%
- Volume: 21,481,020 shares
- AIRLINK
- Price: 147.31
- Change %: 5.67%
- Volume: 21,233,833 shares
- WTL
- Price: 1.22
- Change %: -1.61%
- Volume: 20,947,794 shares
- AGHA
- Price: 13.82
- Change %: 10.03%
- Volume: 20,042,202 shares
- FFL
- Price: 9.15
- Change %: 2.58%
- Volume: 18,201,901 shares
- DCL
- Price: 8.73
- Change %: 4.43%
- Volume: 16,883,376 shares
- HASCOL
- Price: 7.25
- Change %: 5.99%
- Volume: 16,422,901 shares
These stocks demonstrated significant trading activity, with SYM leading the market by volume, experiencing a price increase of 13.21% on 64,297,326 shares traded. NBP also saw substantial activity, rising by 8.96% with 42,591,637 shares exchanged.
BROADER MARKET OVERVIEW
In the broader market, the All-Share Index closed at 50,470.41, gaining 235.65 points or 0.47%. The total market volume was 599.82 million shares, slightly lower than the previous session’s 636.02 million shares. The traded value increased to Rs20.41 billion, up by Rs4.14 billion from the previous session.
A total of 267,199 trades were reported across 447 companies, with 227 closing up, 164 closing down, and 56 remaining unchanged.
YEARLY PERFORMANCE
For the fiscal year, the KSE-100 Index has experienced a slight loss of 95 points or 0.12%. However, the ongoing calendar year has seen a significant cumulative increase of 15,899 points, representing a 25.46% gain.
PAKISTAN MARKETS
During the interbank session on Thursday, the value of the Pakistani Rupee (PKR) slightly decreased versus the US dollar, losing 19.23 paisa, or 0.07%.
On Thursday, the price of gold per tola in Pakistan saw a significant decline, with 24-karat gold selling for Rs261,500 per tola.
