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Bulls toss KSE-100 index over 45,000-point mark

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3 years ago

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  • KSE-100 gains 223.28 points to settle at 45,152.11.
  • Shares of 364 were traded during the session.
  • Overall trading volumes dropped to 389.11 million shares.

KARACHI: The Pakistan Stock Exchange (PSX) extended its bull-run on the last day of the trading week and jumped over 200 points as the market participants cherry-picked stocks, which had dropped to attractive valuations.

Investors’ took fresh positions despite the ongoing political crisis in the wake of a no-confidence motion against Prime Minister Imran Khan and rising inflation in the country.

During the session, the Pakistan Bureau of Statistics (PBS) released the data on inflation based on the consumer price index (CPI) which rose to 12.7%. Meanwhile, the rupee breached the 184-mark, fell to an all-time low of Rs184.09 against the US dollar in the interbank market.

The market players, however, ignored all negative cues and posted nominal gains in anticipation of encouraging financial results for the quarter ended March 31, 2022 and a decline in international oil prices.

At the close, the KSE-100 index gained 223.28 points, or 0.5%, to settle at 45,152.11 points.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day trading curve. — PSX data portal

Shares of 364 were traded during the session. At the close of trading, 183 scrips closed in the green, 149 in the red, and 32 remained unchanged.

Overall trading volumes dropped to 389.11 million shares compared with Thursday’s tally of 415.63 million. The value of shares traded during the day was Rs11.1 billion.

Telecard Limited was the volume leader with 35.43 million shares traded, gaining Rs0.26 to close at Rs14.43. It was followed by TPL Properties with 26.36 million shares traded, gaining Rs0.62 to close at Rs20.82, and Treet Corporation with 24.86 million shares traded, gaining Rs0.47 to close at Rs34.40.

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Robust activity lets PSX climb above 115,000 level again.

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On Friday, the Pakistan Stock Exchange (PSX) resumed its upward trend, crossing 115,000 points once more.

The PSX had strong action in the morning session, as the KSE-100 index increased by 1,000 points to 115,138.

The notoriously volatile PSX closed Thursday at 114,037 points, up 594 points.

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Meanwhile, in the interbank market this morning, the US dollar fell 7 paisas to Rs278.65 against the Pakistani rupee.

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SBP will announce monetary policy on January 27.

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The State Bank of Pakistan (SBP) will release its monetary policy on Monday.

The Monetary Policy Committee (MPC) of the SBP will convene on the first day of the following week to make decisions on monetary policy.

The Monetary Policy decision will be announced by Governor SBP Jameel Ahmad at a news conference on the same day after the MPC meeting, according to an official release.

In December, the central bank reduced policy rates by 200 basis points (bps) to 13 percent.

“In November 2024, headline inflation fell to 4.9 percent year on year, meeting the MPC’s estimates. This decrease was mostly caused by the ongoing decline in food inflation and the phasing out of the impact of the gas tariff increase in November 2023,” SBP stated in an official release.

“However, the Committee noted that core inflation, at 9.7 percent, is proving to be sticky, while consumer and business inflation expectations remain volatile.” To that end, the Committee restated its previous assessment that inflation may remain volatile in the short term before stabilizing within the target range.

“At the same time, growth prospects have slightly improved, as evidenced by a recent increase in high-frequency indicators of economic activity.” Overall, the Committee concluded that its approach of gradual policy rate decreases is keeping inflationary and external account pressures under control while promoting long-term economic growth.

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Finance Minister Meets With World Leaders at World Economic Forum in Davos

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During his attendance at the World Economic Forum in Davos, Switzerland, Finance Minister Muhammad Aurangzeb has met with officials of organisations and leaders of many nations.
Bangladesh’s Chief Advisor, Muhammad Younas, met with Mohammad Aurangzeb.
On the fringes of the World Economic Forum’s Annual Meeting 2025 Opening Banquet, there was an informal meeting.
Additionally, the Finance Minister met with Anwar Ibrahim, the Prime Minister of Malaysia.
Both leaders discussed economic cooperation and bilateral ties.
Muhammad Aurangzeb also had a meeting with Dp World’s Rizwan Soomro and Yuvraj Narayan.
They talked about how to strengthen Pakistan’s logistics and infrastructure systems to support trade.
“The Pakistani government is committed to advancing joint projects and values partnerships in both business-to-business and business-to-government cooperation,” the finance minister added.

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