KSE-100 index hits record 93,000 mark

November 08, 2024 (MLN): Bulls roared strong during early trading hours on Friday, driving the benchmark KSE-100 Index to a new record of 93,000.

The rally was broad-based, with 73 of the 100 index companies trading in green.

The central bank reported today that workers' remittances increased by 23.91% in October to $3.052 billion, pushing sentiments of macroeconomic strength.

The top gainers during these early hours were PIBTL (+15.97%), BNWM (+9.99%), NCPL (+9.34%), MEHT (+5.59%), and EFUG (+5.27%).

On the other hand, BOP (-3.35%), PGLC (-2.78%), JDWS (-1.87%), PKGP (-1.74%), and LUCK (-1.39%) were the top losers.

In terms of index-point contributions, companies that propped up the index were HUBC (+74.97pts), MARI (+55.67pts), ENGRO (+37.90pts), PSO (+36.59pts), and OGDC (+27.62pts).

Meanwhile, companies that dragged the index lower were LUCK (-40.84pts), MCB (-20.35pts), UBL (-19.19pts), CHCC (-11.32pts), and SRVI (-10.19pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+111.21pts), Power Generation & Distribution (+99.65pts), Fertilizer (+60.59pts), Oil & Gas Marketing Companies (+50.12pts), and Automobile Assembler (+35.66pts).

While the index was let down by Cement (-32.17pts), Commercial Banks (-26.15pts), Leather & Tanneries (-10.19pts), Paper, Board & Packaging (-4.26pts), and Sugar & Allied Industries (-3.20pts).

To note, the KSE-100 has gained 14,551 points or 18.55% during the fiscal year, whereas it has increased 30,545 points or 48.91% so far this calendar year.

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