KSE-100 extends rally, breaks past 109,000 mark

December 06, 2024 (MLN): Today's trading session kicked off on a similarly positive note with Pakistan stocks continuing the nonstop rally observed in recent days.

The benchmark KSE-100 Index is currently trading at 109,400.07, showing an increase of 1,161.11 points or 1.07% (10:24am PST).

This marks the eighth consecutive daily rise of the stock market, taking the calendar year's returns to 75.18%, while for the fiscal year, they stand at 39.46%.

The robust gains are driven by strong buying momentum, fueled by high expectations of a further policy rate cut by the central bank, following inflation's decline to its lowest level since April 2018.

Top gainers during the day were AIRLINK (+9.27%), NML (+8.18%), ENGRO (+8.02%), PTC (+7.21%), and DAWH (+6.31%).

On the other hand, top losers were ISL (-3.07%), PKGS (-3.04%), PSEL (-2.77%), MUGHAL (-2.25%), and HGFA (-2.02%).

In terms of index-point contributions, companies that propped up the index were ENGRO (+267.27pts), MEBL (+162.81pts), MARI (+145.91pts), DAWH (+130.31pts), and MCB (+66.77pts).

Meanwhile, companies that dragged the index lower were SYS (-40.71pts), OGDC (-32.83pts), PSO (-27.61pts), HUBC (-27.18pts), and CHCC (-20.59pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+452.91pts), Fertilizer (+278.14pts), Inv. Banks / Inv. Cos. / Securities Cos. (+129.35pts), Oil & Gas Exploration Companies (+93.39pts), and Technology & Communication (+44.14pts).

While the index was let down by Power Generation & Distribution (-28.17pts), Oil & Gas Marketing Companies (-24.04pts), Engineering (-17.80pts), Paper, Board & Packaging (-17.35pts), and Miscellaneous (-15.93pts).

In the broader market, the All-Share Index is trading at 68,828.25 with a net gain of 643.66 points or 0.94%.

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