KSE-100 ends week with gain of 609 points

KARACHI: The Pakistan Stock Exchange gained 609 points on Friday, the last trading day of the week, amid buying in the blue-chip stocks, maintaining its position at the key level of 112k points.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index increased by 609.03 points or 0.54 per cent to 113,247.29 points against 112,638.26 points recorded in the last session. The highest index of the day remained at 113,554.07 points, while the lowest level was recorded at 112,013.59 points.

Ahsan Mehanti, an analyst at Arif Habib Corp, said, “Stocks recovered [on Friday] driven by blue-chip oil and cement scrips, amid rising global crude oil prices and declining government bond yields.”

He said that upbeat data showing $3.1 billion in remittances, a 29.3 per cent YoY surge in December 2024, along with projections of a potential SBP policy rate cut this month, acted as key catalysts for the bullish close at the PSX.

The KSE-30 index increased by 253.55 points or 0.72 per cent to 35,711.64 points against 35,458.09 points.

Traded shares decreased by 96 million shares to 499.846 million shares from 695.142 million shares. The trading value rose to Rs24.825 billion from Rs24.293 billion. Market capital expanded to Rs14.23 trillion against Rs14.156 trillion. Of the 450 companies active in the session, 177 closed in green, 218 in red, and 55 remained unchanged.

Topline Securities’ sales desk said that continuing its momentum, the market opened on a negative note and traded in the negative zone during the first trading session, where the index declined to make an intraday low of 625 points (-0.55 per cent). However, in the second half of the trading session, buying by institutions was observed as they came in to buy at the dip, as the index recovered to close at the 113,247 level (up by 0.54 per cent).

Traded value-wise, AIRLINK ($10.54 million), OGDC ($7.63 million), PPL ($5.86 million), PSO ($4.64 million) and FFC ($3.2 million) dominated the trading activity. The top positive contributions to the index came from OGDC, PPL, BAHL, HMB, DGKC and FCCL, as they cumulatively contributed 773 points to the index.

The highest increase was recorded in Nestle Pakistan Limited, which rose by Rs351.39 to Rs7,502.60 per share, followed by Unilever Pakistan Foods Limited, which increased by Rs89 to Rs20,900.01 per share. A significant decline was noted in PIA Holding Company Limited B, which fell by Rs67.82 to Rs844.57 per share; Service Industries Limited followed it, which closed lower by Rs28.58 to Rs1,416.18 per share.

Brokerage Arif Habib Limited said the Pakistan Stock Exchange (PSX) ended the week with a recovery, as the index held the critical 112,000 level, printing a low of 112,013, averting an immediate bearish outlook for the coming week.

Market analysts noted that holding the 112,000 level on a weekly basis sets up the potential for a run towards 115,000 in the coming week, providing optimism for a possible upward trend.

WorldCall Telecom remained the volume leader with 68.828 million shares, which closed lower by 4 paisas to Rs1.75 per share. Fauji Foods Ltd, with 31.850 million shares, followed it, which closed higher by 44 paisas to Rs17.09 per share.

Other significant turnover stocks included Cnergyico PK, Pace (Pak) Ltd, K-Electric Ltd., Pak Elektron, Air Link Commun, Ist Capital Sec, Pak Refinery and BO Punjab.In the futures market, 301 companies recorded trading, 130 of which increased, 170 decreased and one remained unchanged.