KSE-100 scores another 1,000pts victory

December 10, 2024 (MLN): The trading session at the stock market has started today on a similarly positive note, with Pakistani stocks continuing the uninterrupted rally observed in recent days.

The benchmark KSE-100 Index is trading at 111,575.85, showing an increase of 1,605.47 points or 1.46% (10:56am PST).

This marks the tenth consecutive daily rise of the stock market, taking the calendar year's returns to 78.66%, while for the fiscal year, they stand at 42.23%.

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 start were SAZEW (+10.00%), LUCK (+10.00%), ATRL (+10.00%), PKGP (+6.89%), and DGKC (+5.79%).

On the other hand, top losers were SNGP (-4.18%), AIRLINK (-2.76%), PAEL (-2.14%), BOP (-2.02%), and PABC (-1.92%).

In terms of index-point contributions, companies that propped up the index were LUCK (+337.23pts), MARI (+205.31pts), FFC (+152.50pts), ENGRO (+110.96pts), and SAZEW (+80.42pts).

Meanwhile, companies that dragged the index lower were HBL (-38.96pts), UBL (-37.02pts), SNGP (-36.87pts), AIRLINK (-17.70pts), and NBP (-13.23pts).

Sector-wise, KSE-100 Index was supported by Cement (+474.57pts), Fertilizer (+302.14pts), Oil & Gas Exploration Companies (+250.09pts), Automobile Assembler (+141.43pts), and Refinery (+103.66pts).

While the index was let down by Oil & Gas Marketing Companies (-12.79pts), Cable & Electrical Goods (-10.55pts), Real Estate Investment Trust (-2.38pts), Transport (-2.11pts), and Synthetic & Rayon (-0.76pts).

In the broader market, the All-Share Index has crossed the 70,000 mark with a net gain of 903.56 points or 1.30%.

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