Despite rally, KSE-100 Index shows $4bn decline in Market Cap

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MG News | July 12, 2023 at 09:47 AM GMT+05:00

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July 12, 2023 (MLN): The positive news flow in recent days has sparked investors' confidence as the KSE-100 has been on a roll. However, despite the index's impressive performance, there are concerns over the market's overall health.

In Tuesday's trading session, KSE-100 breached the psychological level of 45,000 points.

The last time the KSE-100 index crossed the 45,000 mark was over a year ago on April 28, 2022.

During that period, the market capitalization of the KSE-100 index stood at Rs1.8 trillion and $9.7 billion.

In contrast, the current market capitalization is recorded at Rs1.609tr, while in dollar terms it stands at $5.78bn, representing a significant decline of 40.5%.

Although the recent surge in the KSE-100 index is undoubtedly a positive development, the disparity between the market capitalization in PKR and USD highlights the vulnerability of the Pakistani stock market to currency fluctuations and external factors.

To note, the benchmark KSE-100 index has gained a staggering 3,703.11pts in just the last seven trading sessions, since the signing of the long-standing staff-level agreement with the IMF on a $3 billion nine-month SBA.

Moreover, the State Bank of Pakistan (SBP) received a $2bn deposit from Saudi Arabia yesterday.

On Monday, Fitch Ratings upgraded Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC' from 'CCC-'.

KSE-100 Daily time-frame chart

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Name Price/Vol %Chg/NChg
KSE100 180,512.65
448.22M
-1.39%
-2537.16
ALLSHR 108,400.67
868.95M
-1.31%
-1441.30
KSE30 55,207.56
114.28M
-1.38%
-773.10
KMI30 255,372.52
163.47M
-1.65%
-4292.29
KMIALLSHR 69,728.20
559.75M
-1.31%
-922.50
BKTi 52,173.33
27.19M
-1.16%
-613.90
OGTi 35,348.89
25.23M
-2.28%
-823.86
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 67,980.00 68,350.00
66,735.00
265.00
0.39%
BRENT CRUDE 69.14 69.85
68.86
-0.26
-0.37%
RICHARDS BAY COAL MONTHLY 96.00 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
1.70
1.65%
USD RBD PALM OLEIN 1,071.50 1,071.50
1,071.50
0.00
0.00%
CRUDE OIL - WTI 64.47 65.10
64.18
-0.16
-0.25%
SUGAR #11 WORLD 13.76 13.88
13.67
-0.08
-0.58%

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