PSX Sees 0.84% Recovery as KSE-100 Gains 927.86 Points
The KSE-100 gained 927.86 points, or 0.84 percent, to settle at 111,351.18 points, as against 110,423.32 points on the last trading day at the stock market.
A total of 816 million shares were traded during the day at the PSX, as compared with the turnover of 628 million the previous trading day.
The price of shares stood at Rs32.92 billion, as against Rs33.58 billion on the last trading day at the Pakistan Stock Exchange.
Analysts at Topline Securities said that “Recovery was observed today as KSE 100 Index largely traded in the positive zone to close at 111,351 level (up by 0.84%)”.
They said that the KSE 100 Index gained 1.68% on a WoW basis, as the market returned to its positive course after a negative weekly closing for the previous week, as the low interest rate environment and lack of investment avenues continue to attract investor interest in the market.
PSX turns bearish, KSE-100 sheds over 1,991 points
Analysts are of the view that in the T-Bill auction, participation of Rs1,694bn was seen with the government raising Rs913bn as against the target of Rs1,200bn and maturity of Rs1,565bn, where yields remained unchanged and Pakistan’s Weekly SPI increased by 0.8% WoW for the week ending Dec 26, 2024, marking the highest level in 25 weeks.
Investor participation declined during the week as average daily traded volume and value for the week stood at 796mn shares (down by 31% WoW) and PKR.43Bn/$155mn (down by 25% WoW), they added.
As many as 443 companies transacted their shares in the stock market, 223 of them recorded gains and 176 sustained losses, whereas the share price of 44 companies remained unchanged.
The three top trading companies were Fauji Foods Ltd with 104.43 million shares at Rs 17.08 per share, WorldCall Telecom with 74.13 million shares at Rs1.71 per share, and Cnergyico PK with 40.47 million shares at Rs6.52 per share.
Hoechst Pakistan Limited recorded an increase of Rs147 per share price, closing at Rs2,847 while Ismail Industries Limited witnessed a Rs79.71 rise in its per share price to Rs1,965.
Rafhan Maize Products Company Limited witnessed a decline of Rs113.46 per share closing at Rs8,888, followed by Nestle Pakistan Limited with a decrease of Rs53.11 to close at Rs7,377.70.
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