AGL 37.62 Decreased By ▼ -0.53 (-1.39%)
AIRLINK 122.00 Increased By ▲ 0.49 (0.4%)
BOP 5.72 Decreased By ▼ -0.13 (-2.22%)
CNERGY 3.71 Decreased By ▼ -0.04 (-1.07%)
DCL 8.32 Decreased By ▼ -0.08 (-0.95%)
DFML 40.72 Decreased By ▼ -0.17 (-0.42%)
DGKC 84.60 No Change ▼ 0.00 (0%)
FCCL 33.25 Increased By ▲ 0.55 (1.68%)
FFBL 65.50 No Change ▼ 0.00 (0%)
FFL 9.92 Decreased By ▼ -0.13 (-1.29%)
HUBC 103.79 Decreased By ▼ -0.01 (-0.01%)
HUMNL 13.23 Decreased By ▼ -0.02 (-0.15%)
KEL 4.41 Decreased By ▼ -0.02 (-0.45%)
KOSM 7.05 Decreased By ▼ -0.04 (-0.56%)
MLCF 37.70 Increased By ▲ 0.20 (0.53%)
NBP 59.86 Decreased By ▼ -0.39 (-0.65%)
OGDC 175.19 Increased By ▲ 2.94 (1.71%)
PAEL 24.85 Increased By ▲ 0.05 (0.2%)
PIBTL 5.73 Increased By ▲ 0.03 (0.53%)
PPL 145.97 Increased By ▲ 4.28 (3.02%)
PRL 22.77 Increased By ▲ 0.05 (0.22%)
PTC 14.97 Increased By ▲ 0.23 (1.56%)
SEARL 65.14 Increased By ▲ 0.58 (0.9%)
TELE 7.04 Decreased By ▼ -0.10 (-1.4%)
TOMCL 35.65 Increased By ▲ 0.15 (0.42%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.95 Decreased By ▼ -0.25 (-1.76%)
TRG 50.90 Decreased By ▼ -0.85 (-1.64%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.22 No Change ▼ 0.00 (0%)
BR100 9,543 Increased By 59.5 (0.63%)
BR30 28,579 Increased By 208.3 (0.73%)
KSE100 89,476 Increased By 509.4 (0.57%)
KSE30 27,943 Increased By 115.8 (0.42%)

KARACHI: Pakistan Stock Exchange performed exceptionally well and hit historic highest-ever levels during the month of October 2024.

The benchmark KSE-100 Index surged by 7,853 points or 9.68 percent on MoM basis to close at 88,966.77 points. During the month, the index hit 91,358.15 points intra-day highest and 90,864.09 points highest-ever closing level.

“This bull run in the market during the month can be attributed to institutional buying, good corporate earnings announcements and expectation of decline in policy rate in the upcoming monetary policy announcement”, an analyst at Topline Securities said.

Major developments during the outgoing month were CPI inflation number for the month of September 2024 which clocked in at 6.9 percent against 9.6 percent in August 2024 which triggered the overall downward spiral in yields on fixed income instruments; Saudi delegation visit to Pakistan, where major feat was news that Saudi firm was set to buy a stake in Barrick Gold’s Reko Diq gold and copper mine; Pakistan’s worker remittances in September 2024 clocking in at $2.85 billion (up 29 percent YoY) and current account posting a surplus of $119 million for the month of September 2024 (making it second consecutive month with current account surplus).

Average daily traded volume and value during the month stood at 519 million shares and Rs 25 billion respectively.

Copyright Business Recorder, 2024

Comments

200 characters