PSX SUMMARY: The KSE-100 Index concluded Monday’s session with a decrease of 223.94 points (0.27%), closing at 81,850.50. The index traded within a range of 914.41 points, reaching an intraday high of 82,463.05 (+388.61) and a low of 81,548.64(-525.80).
Total trading volume on the KSE-100 stood at 163 million shares.
TOP MOVERS:
- Top Losers: NCPL (-9.84%), NPL (-7.67%), PGLC (-7.20%), MARI (-5.98%), HUBC (-5.81%)
- Top Gainers: FFC (+7.00%), SCBPL (+6.36%), EFUG (+5.26%), SHFA (+4.11%), PTC (+3.61%)
Of the 100 listed companies, 29 closed up, 67 closed down, while 3 remained unchanged, and 1 remained untraded.
INDEX CONTRIBUTORS:
- Negative Contributors: HUBC (-261.78 points), MARI (-209.60 points), PPL (-71.74 points), OGDC (-55.92 points), BAFL (-35.35 points)
- Positive Contributors: FFC (+311.62 points), UBL (+150.13 points), EFERT (+100.47 points), BAHL (+60.14 points), SCBPL (+23.10 points)
SECTOR PERFORMANCE:
- Sectors dragging the index: Oil & Gas Exploration (-323.56 points), Power Generation & Distribution (-322.17 points), Cement (-76.65 points)
- Supporting sectors: Fertilizer (+434.43 points), Commercial Banks (+189.45 points), Insurance (+7.84 points)
ALL-SHARE INDEX PERFORMANCE:
The All-Share Index closed at 52,216.25 with a loss of 72.60 points (0.14%). Total market volume was 400.31 million shares, compared to 482.37 million in the previous session. The traded value stood at Rs18.69 billion, a decrease of Rs11.50 billion.
Across 439 companies, 143 closed up, 237 down, and 59 unchanged, with a total of 238,765 trades.
TOP TEN BY VOLUME:
Here are the top ten companies by trading volume for the day:
- PACE: Closed at a price of Rs5.39, down by 14.17%, with a total trading volume of 30.38 million shares.
- WTL: Closed at Rs1.28, a decline of 2.29%, with 29.12 million shares traded.
- OGDC: Ended the day at Rs138.61, dropping by 1.90%, with a volume of 23.08 million shares.
- SYM: Gained 6.83%, closing at Rs10.16, with a trading volume of 21.97 million shares.
- HUBC: Closed at Rs134.81, decreasing by 5.81%, with 18.50 million shares traded.
- FFBL: Increased by 3.43%, closing at Rs45.88, with a volume of 17.24 million shares.
- SLGL: Gained 1.85%, ending at Rs17.60, with 15.18 million shares traded.
- KOSM: Closed at Rs7.87, up by 1.16%, with 13.98 million shares traded.
- CNERGY: Dropped by 1.04%, closing at Rs3.79, with a trading volume of 9.39 million shares.
- NCPL: Ended at Rs28.95, down by 9.84%, with a total volume of 9.29 million shares.
These companies recorded the highest trading volumes in the market on Monday.
YEAR-TO-DATE PERFORMANCE:
During the fiscal year, the KSE-100 Index has gained 3,406 points (4.34%). On a calendar-year basis, the index has risen by 19,399 points (31.06%).
PAKISTAN MARETS SUMMARY:
PKR Slightly Depreciates Against USD, Gains Against Other Major Currencies
The Pakistani rupee (PKR) saw a minor depreciation of 3.1 paisa (0.01%) against the US dollar in Monday’s interbank session, closing at PKR 277.87 per USD. However, PKR appreciated against several other major currencies, including a 1.79 rupee gain against the Euro, a 1.29 rupee drop against the British Pound, and a marginal 0.04 paisa increase against the Japanese Yen.
MONEY MARKET UPDATE
The Karachi Interbank Bid and Offer rates (KIBOR) for the benchmark 6-month tenor dropped by 8 basis points, with the bid rate at 15.96% and the offer rate at 16.21%.
GOLD PRICES DECLINE AFTER RECORD HIGH
Gold prices in Pakistan declined by Rs600 per tola, closing at Rs271,900, following a similar drop in international markets. The price of 10-gram gold also decreased by Rs471, settling at Rs233,110. Internationally, gold prices dropped by $5, bringing the rate to $2,617 per ounce.
SILVER PRICES HOLD STEADY
In contrast, silver prices remained stable at Rs2,950 per tola.
GLOBAL GOLD PRICE SURGE AMID US DOLLAR WEAKNESS
Gold prices (XAU/USD) hit record highs due to a weaker US dollar and expectations of further Federal Reserve rate cuts. Geopolitical tensions in the Middle East are also driving safe-haven demand for gold.
UPCOMING US PMI DATA MAY INFLUENCE GOLD PRICES
The release of US Purchasing Managers Index (PMI) data could potentially affect gold prices if it strengthens the US dollar.
TECHNICAL ANALYSIS
Gold remains bullish, with a potential move towards the $2,700 level, though overbought conditions suggest possible consolidation. The key support levels are at $2,600 and $2,560.
FEDERAL RESERVE POLICY OUTLOOK
FED officials remain cautious about future rate decisions, with some advocating for smaller adjustments until inflation targets are met.
