The KSE-100 Index closed Monday’s trading session on a positive note, rising by 807.42 points or 0.95%, to settle at 86,057.51 points. Analysts attributed the market’s strong performance to the passing of the 26th Constitutional Amendment, which helped reduce political uncertainty and provided a boost to investor confidence.
The KSE-100 Index remained in positive territory throughout the day, hitting an intraday high of 86,172.79 points(+922.70) and a low of 85,349.32 points (+99.23). Trading volume for the KSE-100 Index stood at 240.44 million shares, indicating strong investor participation.
Market Sentiment and Top Performers
Of the 100 companies on the index, 76 closed up, 19 closed down, while 4 remained unchanged. The market rally was led by KOSM (+12.98%), YOUW (+10.72%), PSX (+10.02%), ATRL (+10.00%), and PKGS (+8.19%). On the other hand, the top losers included EFUG (-4.04%), PAKT (-3.09%), SRVI (-1.87%), INDU (-1.55%), and JDWS (-1.47%).
Key Contributors to the Index
Companies that contributed the most to the index’s gains were MTL (+77.68 points), UBL (+61.04 points), ATRL (+53.08 points), HUBC (+42.93 points), and PIOC (+38.82 points). On the flip side, companies that dragged the index down included POL (-25.99 points), SRVI (-16.36 points), PAKT (-15.01 points), INDU (-13.07 points), and DAWH (-12.05 points).
Sector-Wise Performance
Sector-wise, the KSE-100 Index was bolstered by Cement (+132.19 points), Commercial Banks (+107.16 points), Automobile Assemblers (+103.42 points), Fertilizer (+83.74 points), and Refinery (+59.90 points). However, sectors like Leather & Tanneries (-16.36 points), Tobacco (-15.01 points), Sugar & Allied Industries (-2.42 points), Synthetic & Rayon (-1.87 points), and Engineering (-1.51 points) underperformed.
Broader Market Highlights
In the broader market, the All-Share Index posted a gain of 522.74 points or 0.95%, closing at 55,449.98 points. The total market volume surged to 474.95 million shares, compared to 323.92 million shares in the previous session, with a total traded value of Rs19.66 billion, reflecting an increase of Rs3.98 billion.
Of the 443 companies traded, 268 closed up, 123 closed down, and 52 remained unchanged. The most actively traded companies by volume included KOSM, PIBTL, FLYNG, HUMNL, and PTC.
Top Ten by Volume
- KOSM: 59.1 million shares (+12.98%)
- PIBTL: 27.87 million shares (+6.18%)
- FLYNG: 18.49 million shares (+9.94%)
- HUMNL: 17.75 million shares (+6.30%)
- PTC: 17.52 million shares (+6.18%)
- WTL: 15.37 million shares (+2.50%)
- HUBC: 15.28 million shares (+1.34%)
- FFL: 12.31 million shares (+4.81%)
- PRL: 11.74 million shares (-1.09%)
- PSX: 10.23 million shares (+10.02%)
Fiscal and Calendar Year Gains
The KSE-100 Index has been on a strong upward trend, gaining 7,613 points or 9.70% during the current fiscal year. Over the ongoing calendar year, the index has seen an impressive rise of 23,606 points, equating to a 37.80% increase, reflecting renewed investor optimism in the country’s financial markets.
The passage of the 26th Constitutional Amendment and reduced political uncertainty are expected to continue supporting positive market sentiment in the coming sessions.
PAKISTAN MARKETS NEWS
On Monday, the Pakistani rupee (PKR) experienced a minor depreciation, falling by 7.45 paisa or 0.03% against the US dollar in the interbank market. The currency settled at PKR 277.69 per USD, compared to the previous closing rate of PKR 277.61. During the trading session, the rupee fluctuated, reaching an intraday high of PKR 277.80 and a low of PKR 277.60.
In tandem with global trends, gold prices in Pakistan soared to a new record high on the same day. The price of 24-karat gold was quoted at Rs282,300 per tola, reflecting an increase of Rs500 from the previous session. This surge in gold prices is attributed to rising safe-haven demand amid ongoing conflicts in the Middle East and growing uncertainty surrounding the upcoming US presidential election.
Globally, spot gold prices have also surged to an all-time high near $2,728 per ounce, driven by investor anxiety and geopolitical tensions. The significant rise in gold prices has made it a preferred investment choice, providing a hedge against economic instability and inflation concerns.
As the financial landscape evolves, both the depreciation of the PKR and the rise in gold prices are indicators of market dynamics influenced by global events and local economic conditions. Investors will be closely monitoring these trends as they navigate the current financial climate.
