Pakistani stocks set for biggest annual gain in 22 years

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MG News | December 31, 2024 at 01:20 PM GMT+05:00

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December 31, 2024 (MLN): Pakistani stocks are on pace to record their biggest annual gain in 22 years, outperforming nearly all markets worldwide as economic conditions improve and traders bet on more interest-rate cuts, as Bloomberg reported. 

The South Asian nation’s benchmark KSE-100 Index has risen about 86% this year. That makes the index the second-best performer in local currency terms among the more than 90 tracked globally by Bloomberg.

Country watchers expect the boom to continue next year, bolstered by likely more cuts in borrowing costs and easing inflation, while a loan program from the International Monetary Fund helps to stabilize the economy.

Pakistan’s economy expanded more slowly than expected last quarter, but has broadly recovered from 2023 when it narrowly escaped a default.

“This year was all about the return of domestic mutual funds to the market following a much steeper cut in rates than expected,” said Bilal Khan, head of international equity sales at Arif Habib Ltd. “Next year, we will see notable inflows from foreigners as investors will not be able to ignore allocating to Pakistan given the performance.”

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Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,230.00 117,335.00
114,960.00
1655.00
1.43%
BRENT CRUDE 68.49 68.69
67.01
1.05
1.56%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.35 93.50
93.15
0.50
0.54%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.55 64.76
62.89
1.25
1.97%
SUGAR #11 WORLD 15.88 16.10
15.82
-0.12
-0.75%

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