The Pakistan Stock Exchange (PSX) achieved a significant milestone on Monday, with market activity reaching a 7.5-year high. The benchmark KSE-100 index surged by 1,917 points or 1.89%, closing at 103,274 points, compared to Friday’s close of 101,357.
The day’s traded value stood at Rs. 47 billion ($169 million), marking the highest activity in the regular market since May 31, 2017 (MSCI reclassification day). Excluding that day, this is the highest traded value recorded since April 9, 2008, nearly 17 years ago.
Record-Breaking Performance
According to Arif Habib Limited (AHL), the PSX has shown remarkable growth, with the KSE-100 index reflecting a 65% increase CY24TD (Calendar Year-to-Date) and a staggering 32% rise since June 2024. A total of 1.55 billion shares were traded during the session, with the value of shares reaching Rs. 47.097 billion.
Out of 461 companies that traded on the stock market, 338 recorded gains, 85 sustained losses, and 38 remained unchanged.
Sector-Wise Buying Activity
Buying momentum was observed across major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, oil marketing companies (OMCs), and refineries. Index-heavy stocks such as HUBCO, PRL, NRL, SNGPL, SSGC, OGDC, PPL, MCB, MEBL, and NBP traded in the green, driving the market’s upward trajectory.
Market experts attributed the bullish sentiment to expectations of lower inflation readings for November, which have raised hopes of a potential policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting.
Inflation Data Boosts Sentiment
Later in the day, the Pakistan Bureau of Statistics (PBS) reported that the country’s headline inflation for November 2024 dropped to 4.9% year-on-year, a significant decline from 7.2% in October 2024. The lower inflation reading further fueled investor optimism, contributing to the market’s strong performance.
Top Volume Leaders
| Scrip | Price (Rs.) | High (Rs.) | Low (Rs.) | Change (Rs.) | Volume |
|---|---|---|---|---|---|
| WTL | 1.47 | 1.54 | 1.37 | 0.09 | 213,514,857 |
| CNERGY | 5.72 | 5.72 | 4.61 | 1.0 | 196,907,321 |
| FFL | 13.6 | 13.74 | 12.4 | 0.96 | 68,325,507 |
| KEL | 5.82 | 5.84 | 5.65 | 0.2 | 66,212,972 |
| SSGC | 29.17 | 31.13 | 28.6 | 1.01 | 65,264,278 |
| BOP | 8.99 | 9.4 | 8.8 | -0.19 | 61,288,845 |
| HASCOL | 13.49 | 13.49 | 12.4 | 1.23 | 49,268,731 |
