A TIMELY POLITICAL RESOLUTION of the election uncertainness has resulted in bullish sentiment for traders and investors in PSX. However caution is the name of the game! Sharif’s election on Sunday for his second term as Prime Minister has played a pivotal role in dispelling political uncertainties that previously clouded the nation’s economic outlook. His explicit intent to secure a substantial bailout from the IMF, potentially exceeding $6 billion, underscores a proactive approach towards fulfilling Pakistan’s substantial debt obligations.

MARKET DYNAMICS AND SECTORAL CONTRIBUTIONS

Throughout Monday’s trading session, the KSE-100 Index maintained a bullish momentum, reaching an intraday high of 66,007.44 points. The market’s vibrancy was mirrored in the total volume of traded shares, amounting to 211.691 million. Notably, the energy sector, alongside power generation, distribution, cement, and technology & communication, significantly contributed to the index’s performance. However, sectors such as commercial banks and investment companies slightly dampened the market’s overall gains.

PSX Market Summary (As of Mar 4, 2024 4:15 PM)
Index Value65,951.72
Change626.04 (0.96%)
High66,007.43
Low65,532.58
Volume211,690,827
1-Year Change62.16%
YTD Change1.99%
Previous Close65,325.68
Day Range65,532.58 — 66,007.43
52-Week Range39,482.17 — 67,093.96

 

LEADING CONTRIBUTORS AND LAGGARDS

Contributors such as OGDC, PPL, MARI, HUBC, and LUCK played a crucial role in propelling the KSE-100 Index upwards. Conversely, entities like HBL, MEBL, HMB, FFC, and DAWH faced setbacks, marginally pulling the index in the opposite direction.

PSX DAILY RESEARCH REPORT AND ANALYSIS

BROAD MARKET PERSPECTIVE

The broader All-Share Index also mirrored the optimism, closing with a net gain of 420.11 points. The session witnessed a substantial increase in market volume and value, indicative of heightened trading activity and investor engagement. The landscape showcased a balanced dynamic, with 184 companies closing up, 150 down, and a few remaining unchanged.

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