The Pakistan Stock Exchange (PSX) kicked off the new year with a strong bullish rally on Wednesday, as the benchmark KSE-100 Index surged by over 1,800 points to close at a record high. The index ended the day at 117,008 points, gaining 1,881 points or 1.61% compared to the previous session.
A total of 931.28 million shares were traded during the session, slightly lower than the 1.23 billion shares traded on the previous day. The total value of shares traded stood at Rs. 42.62 billion, down from Rs. 44.22 billion in the last session.
Buying interest was observed in key sectors, including automobiles, cement, commercial banks, fertilizer, oil and gas exploration companies, OMCs, power generation, and pharmaceuticals.
Index-heavy stocks including HUBCO, PSO, MARI, OGDC, ENGRO, MCB and MEBL traded in the green.
Out of 461 companies that transacted shares, 258 recorded gains, 160 sustained losses, and 43 remained unchanged.
The market’s bullish momentum was further supported by a significant drop in inflation. The Consumer Price Index (CPI) for December 2024 came in at 4.1%, marking the lowest reading in 81 months. Inflation for the first half of FY25 (1HFY25) averaged 7.22%, a sharp decline from 28.79% during the same period in FY24.
The PSX ended 2024 on a high note, ranking as the second-best performing stock market in the world. It delivered an impressive annual gain of 84% in Pakistani rupee terms and 87% in US dollar terms, reflecting strong investor confidence and market recovery.
