Happy New Year: KSE-100 surges over 1,500pts

January 01, 2024 (MLN): The Pakistan Stock Market makes an impressive start to the year 2024, with its key benchmark KSE-100 index surging by 1,554.63 points or 2.49% to trade at 63,839.67 [10:03am PST].

This comes after the index posted a gain of 54.5% in 2023, the highest yearly return since 2009.

The benchmark index closed 2023 at 62,451 gaining 21,632 points, and emerged as the fourth best-performing stock market for the year.

Moreover, in USD terms, the index recorded a gain of 24%.

In today's session, KSE-100 index is being supported by Oil & Gas Exploration Companies with 398.36, Commercial Banks with 395.29, Fertilizer with 130.32, Oil & Gas Marketing Companies with 109.21, and Power Generation & Distribution with 109.02 points.

Companies adding points to the index are PPL with 172.23, OGDC with 162.5, HUBC with 84.59, UBL with 82.81, and MCB with 77.46 points.

In the broader market, the All-Share index is trading at 42,803.03 with a net gain of 886.75 points.

To note, the KSE-100 has gained 22,553 points or 54.41% during the fiscal year.

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