KARACHI — Pakistan Stock Exchange PSX kicked off the holiday-shortened week on a bullish note after the nation secured a $7 billion loan deal from the International Monetary Fund (IMF) over the weekend. Moreover in the political front Government has announced to BAN PTI.
RECORD HIGH FOR KSE-100 INDEX
The benchmark KSE-100 Index jumped 1,211.51 points or 1.52% to close at a record high of 81,155.60. The market will be closed for the next two days on account of Ashura.
IMF PROGRAM TO BOOST ECONOMIC STABILITY
The new IMF program aims to capitalize on the hard-won macroeconomic stability achieved over the past year, the global lender said in a statement. The successful achievement of a staff-level agreement with the IMF is expected to create a favorable environment for financial inflows from other multilateral institutions, bilateral partners, and friendly countries, according to Arif Habib Limited (AHL).
These inflows are anticipated to contribute to an increase in the country’s foreign exchange (FX) reserves and help alleviate external pressures, AHL stated in a report. Additionally, the program will provide much-needed clarity and certainty regarding the economic roadmap and structural reforms for the next three years.
TRADING SESSION HIGHLIGHTS
Throughout today’s trading session, the index traded within a range of 684.97 points, showing an intraday high of 81,428.43 (+1,484.34) and a low of 80,743.46 (+799.37) points. The total volume of the KSE-100 Index was 219.58 million shares.
SECTOR PERFORMANCE
The KSE-100 index was supported by gains in Commercial Banks (+295.96pts), Fertilizer (+203.92pts), Oil & Gas Exploration Companies (+193.68pts), Technology & Communication (+165.01pts), and Cement (+124.38pts). On the flip side, the index was let down by Tobacco (-20.20pts), Refinery (-4.40pts), Paper, Board & Packaging (-2.88pts), Transport (-2.30pts), and Textile Spinning (-1.42pts).
TOP CONTRIBUTORS
Top companies that added points to the index were:
- SYS (+128.69pts)
- MCB (+118.31pts)
- FFC (+102.91pts)
- POL (+92.25pts)
- HUBC (+84.24pts)
Companies that dragged the index lower included:
- NBP (-25.45pts)
- FABL (-21.50pts)
- PAKT (-20.20pts)
- PKGP (-15.30pts)
- MTL (-8.19pts)
ALL-SHARE INDEX PERFORMANCE
In the broader market, the All-Share index closed at 51,473.90 with a net gain of 467.55 points or 0.92%. The total market volume was 441.34 million shares compared to 437.32 million from the previous session, while traded value increased to Rs27.23 billion, showing an increase of Rs3.74 billion.
There were 280,554 trades reported in 456 companies, with 264 closing up, 141 closing down, and 51 remaining unchanged.
TOP PSX STOCK
PIAHCLA closed at 19.01 PKR, decreasing by 7.45%, with a volume of 35,758,060 shares.
PAEL closed at 27.18 PKR, increasing by 6.92%, with a volume of 25,836,722 shares.
WTL closed at 1.21 PKR, increasing by 0.83%, with a volume of 24,920,883 shares.
AIRLINK closed at 110.16 PKR, increasing by 5.66%, with a volume of 21,339,947 shares.
AVN closed at 61.33 PKR, increasing by 9.50%, with a volume of 19,883,419 shares.
FFBL closed at 41.57 PKR, increasing by 1.76%, with a volume of 17,904,619 shares.
HUBC closed at 163.24 PKR, increasing by 1.69%, with a volume of 12,867,737 shares.
KEL closed at 4.79 PKR, decreasing by 0.42%, with a volume of 9,393,410 shares.
MLCF closed at 38.75 PKR, increasing by 0.47%, with a volume of 9,309,908 shares.
PTC closed at 13.01 PKR, increasing by 0.46%, with a volume of 8,852,269 shares.
YEAR-TO-DATE PERFORMANCE
The KSE-100 has gained 2,711 points or 3.46% during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 18,705 points, equivalent to 29.95%.
This bullish trend reflects the positive sentiment in the market following the IMF loan deal, indicating investor confidence in Pakistan’s economic recovery and stability.
PKR
PKR surged by the most in over six months following the nation’s successful securing of a $7 billion loan deal from the International Monetary Fund (IMF) over the weekend.
LEARN TO SAFELY INVEST IN PAKISTAN & TAKE CHARGE OF YOUR OWN MONEY
How to invest in Pakistan stock market: To begin this adventure, you will need to deposit PKR 5,000 as the initial payment to register an account with the Pakistan Stock Exchange (PSX). The Securities and Exchange Commission of Pakistan (SECP) requires you to work with a licensed broker in order to begin the process of opening an account on the Pakistan Stock Market (PSX)..
