The Pakistan Stock Exchange (PSX) continued its upward trajectory on Monday, with the benchmark KSE-100 Index surpassing the 94,000 level for the first time during intra-day trading. However, the index faced challenges in maintaining the level, with gains tapering off later in the session.
By the close of trading, the KSE-100 Index settled at 93,648.32, marking an increase of 356.64 points or 0.38%. The session saw strong buying interest in major energy stocks, with shares of KE, OGDC, PPL, PSO, and SSGC trading positively.
Market analysts attributed the bullish momentum to several favorable macroeconomic factors. Notably, the State Bank of Pakistan’s historic 250 basis points policy rate cut, which lowered the rate to 15%, played a significant role in boosting investor confidence.
Additionally, the latest quarterly review by MSCI increased Pakistan’s weight in the MSCI index to 4.4%, positioning it as the second most liquid market in the MSCI Frontier Markets Index. Furthermore, Pakistan’s remittance inflows reached $3.1 billion in October 2024, providing further support to the economy.
Top Volumes:
| CRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| CNERGY | 4.57 | 4.59 | 4.18 | 0.4 | 98,601,408 |
| PAEL | 29.0 | 29.35 | 27.2 | 2.15 | 78,094,188 |
| KEL | 5.03 | 5.04 | 4.8 | 0.14 | 70,187,495 |
| WTL | 1.28 | 1.29 | 1.26 | 31,959,599 | |
| BOP | 6.71 | 6.98 | 6.64 | -0.06 | 30,732,112 |
| SEARL | 78.45 | 78.45 | 71.51 | 7.13 | 25,361,739 |
| CPHL | 49.11 | 49.54 | 45.04 | 4.1 | 22,856,315 |
