January 19, 2024 (MLN): Following the diplomatic efforts to ease the tensions with Iran, Pakistan’s stock market witnessed a strong recovery on Friday with the benchmark KSE-100 index surging by 698.61 points or 1.11% to 63,901 [09:56am PST].
“Pakistan has also always emphasized dialogue and cooperation,” Mumtaz Zahra Baloch, the foreign ministry spokeswoman, said on Thursday.
“We will continue to engage with our neighbor Iran to ensure that peace prevails and that the two countries make concerted and coordinated efforts to combat the threat of terrorism,” she added.
The index has traded 26.638 million shares.
KSE-100 index is being supported by Commercial Banks with 174.36, Oil & Gas Exploration Companies with 101.4, Fertilizer with 93.41, Power Generation & Distribution with 55.49, and Cement with 51.06 points.
Companies adding points to the index are ENGRO with 55.62, MARI with 41.09, DAWH with 40.84, HUBC with 39.21, and PPL with 33.6 points.
In the broader market, the All-Share index is at 43,233.27 with a net gain of 419.72 points.
Company
Volume
Top Ten by Volume
KEL
9,697,960
PIAA
9,293,000
PTC
3,666,123
HASCOL
3,212,500
WTL
1,737,012
AIRLINK
1,634,423
CNERGY
1,614,393
TREET
1,535,301
FFBL
1,456,061
PPL
1,418,543
To note, the KSE-100 has gained 22,448 points or 54.15% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,450 points, equivalent to 2.32%.
