KARACHI: Pakistan Stock Exchange witnessed bullish trend and hit new highest ever levels with healthy gains during the outgoing week ended on January 03, 2025 on the back of investor strong interest coupled with institutional support.
The benchmark KSE-100 index surged by 6,235.80 points on week-on-week basis and closed at its new highest ever level of 117,586.98 points.
Trading activities also improved as average daily volumes on ready counter increased by 31.4 percent to 1,045.16 million shares during this week as compared to previous week’s average of 795.59 million shares while average daily traded value on the ready counter increased by 1.6 percent to Rs43.55 billion during this week against previous week’s Rs42.88 billion.
BRIndex100 increased by 61.26 points during this week to close at 12,424.56 points with average daily turnover of 162.481 million shares. BRIndex30 closed at 37,492.95 points, down 725.16 points on week-on-week basis with average daily trading volumes of 113.112 million shares.
The foreign investors also remained net buyers of shares worth $873,379. Total market capitalization increased by Rs507 billion during this week to Rs14.633 trillion.
An analyst at AKD Securities said that the market’s positive momentum continued this week, with the benchmark KSE-100 index posting a weekly gain of 6,236points or 5.6 percent, closing at 117,587points. The rally was led by the Banking, Fertilizer, and Investment & Securities Cos, contributing plus 2,082, 1,751, and 696 points, respectively.
Wherein, the removal of ADR tax and implementation of additional taxation resolved uncertainty over the taxation regime, fostering optimism as banks would shift focus toward deposit growth. Additionally, higher dividend expectations from fertilizer stocks and ongoing restructuring further bolstered investor confidence in later sectors.
Sector-wise on the mainboard, Engineering, Textile Spinning and Banks were amongst the top performers, up 10.6 percent/8.1 percent/7.4 percent respectively. On the other hand, Sugar & Allied and Tobacco sectors reported decline of 2.6 percent/2.5 percent, respectively.
Flow wise, major net selling was recorded by Companies and Other Organizations with a net sell of $11.3 million and 9.1million, respectively. On the other hand, Mutual Funds absorbed most of the selling with a net buy of $16.9 million.
Company-wise, top performers during the week were PGLC (up 61.0 percent), PSX (up 60.7 percent), EFERT (up 19.5 percent), DAWH (up 18.7 percent) and MTL (up 18.6 percent), while top laggards were TRG (down 8.5 percent), FCCL (down 4.2 percent), AICL (down 3.6 percent), INDU (down 3.4 percent) and PABC (down 3.1 percent).
An analyst at JS Global Capital said that the KSE-100 continued with the bullish momentum closing at its highest level at 117,587 points, gaining 5.6 percent.
The week started with inflation data for December-2024 which clocked in at 4.1 percent YoY, marking the lowest CPI reading in over 6.5 years. This decline is mainly due to the base effect from last year’s elevated inflation. The average inflation rate for the first half of FY25 is 7.3 percent, a notable reduction compared to the 28.8 percent average recorded in first half of FY24.
Copyright Business Recorder, 2025
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