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.
| Current Index | 62,153.84 |
| Change | 926.92 (1.51%) |
| As of | Feb 14, 2024 4:15 PM |
| High | 62,432.25 |
| Low | 61,635.61 |
| Volume | 179,310,406 |
| 1-Year Change | 51.04% |
| YTD Change | -3.88% |
| Previous Close | 61,226.92 |
| Day Range | 61,635.61 — 62,432.25 |
| 52-Week Range | 39,482.17 — 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.
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.
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.
