The Pakistan Stock Exchange (PSX) witnessed a significant upward trajectory as the benchmark KSE-100 index surged for a consecutive second day. The index experienced an impressive climb of 926.92 points, or 1.51%, closing the session at 62,153.84. This rebound has effectively narrowed the post-election losses to 1,990 points or 3.1%, signaling a robust recovery and investor optimism in the wake of recent political developments.

Pakistan Stock Market (PSX) Closing Summary
Current Index62,153.84
Change926.92 (1.51%)
As ofFeb 14, 2024 4:15 PM
High62,432.25
Low61,635.61
Volume179,310,406
1-Year Change51.04%
YTD Change-3.88%
Previous Close61,226.92
Day Range61,635.61 — 62,432.25
52-Week Range39,482.17 — 67,093.96

 

PSX

The session was marked by a wave of positivity, with the index maintaining an upward trajectory throughout the day. The trading peaked at an intraday high of 62,432.26 points, reflecting a gain of 1,205.33 points, while the lowest dip was a modest 408.69 points at 61,635.62.

FEBRUARY 08, 2024: THE DAY OF RECKONING

The Pakistani Rupee (PKR) saw a slight decrease, losing 0.06 paisa against the US dollar during Wednesday’s interbank trading session. The trading day ended with the Rupee at 279.32 per USD, a slight reduction from its previous close of 279.31 per USD.

INTRADAY

The market’s momentum was underscored by a significant trading volume of 179.31 million shares within the KSE-100 index. A bullish sentiment prevailed as 83 companies ended the day on a high note, with only 8 recording a decline. The landscape was further enriched by 4 firms remaining unchanged and 5 not trading, illustrating a broad-based optimism across the board.

SECTORS CONTRIBUTION

Every sector celebrated gains, with Oil & Gas Exploration Companies leading the charge, followed closely by the Fertilizer sector, Oil & Gas Marketing Companies, Commercial Banks, and the Technology & Communication sector. This collective advancement underscores the diverse strength of Pakistan’s economic sectors, contributing positively to the index’s uplift.

KSE100 PAKISTAN STOCK MARKET PSX TOP POINTS CONTRIBUTOR SECTORS 2024-02-14 at 6.36.15 PM

COMPANIES CONTRIBUTION

Notable companies such as PPL, ENGRO, EFERT, SYS, and PSO were key players in propelling the index forward, while a few, including OGDC and HUBC, faced slight setbacks but were unable to dampen the overall market spirit.

KSE100 PAKISTAN STOCK MARKET PSX TOP POINTS CONTRIBUTOR COMPANIES 2024-02-14 at 6.36.15 PM 2024-02-14 at 6.35.51 PM

BROADER MARKER – ALL-SHARE INDEX

Beyond the KSE-100, the All-Share index also celebrated success, closing with a gain of 586.05 points at 41,876.85. Despite a slight dip in total market volume and traded value compared to the previous session, the market’s breadth was positive, with a majority of companies showing gains.

VOLUME LEADERS

The trading volume was dominated by companies like KEL, OGDC, and PPL, showcasing the active engagement of investors across a spectrum of industries, further buoyed by the market’s positive outlook.

PSX PERFORMANCE

Outstandingly, the KSE-100 index has shown a staggering increase of 20,701 points or 49.94% during the fiscal year. However, the ongoing calendar year has seen a slight cumulative decrease, shedding 297 points, equivalent to 0.48%, hinting at the market’s volatile yet promising nature.

In conclusion, the KSE-100 index’s recent performance not only highlights the resilience of Pakistan’s financial markets but also reflects the optimism stemming from political stability and renewed investor confidence. This trend is a positive signal for potential growth and stability in the region’s economic landscape.

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