PSX Closing Bell: Green Thumb

January 13, 2025 (MLN): The benchmark KSE-100 Index concluded Monday's trading session at 114,230.06, showing an increase of 982.77 points or 0.87%.

The index traded in a range of 1,412.22 points showing an intraday high of 114,496.08 (+1,248.79) and a low of 113,083.86 (-163.43) points.

The total volume of the KSE-100 Index was 198.49 million shares.

Speaking to Mettis Global, Ali Najib, Head of Sales at Insight Securities said that after last week's massive selling, investors did some value hunting as blue-chip stocks were available at attractive price levels offering handsome dividend yields.

Anticipation of a 100bps further cut in interest rates in the upcoming monetary policy (scheduled on Jan 27th), the expectation of further cooling down on the inflation front as the street is expecting that Jan inflation number may land at 3-3.5% and prospects of better corporate announcements in the forthcoming result season kept the bears at bay during the trading hours, he added. 

Of the 100 index companies 72 closed up, 26 closed down, while 2 were unchanged.

Top gainers during the day were SRVI (+8.90%), PGLC (+6.99%), SEARL (+5.64%), MTL (+5.57%), and SNGP (+5.34%).

On the other hand, top losers were ENGROH (-10.00%), JDWS (-5.68%), PKGP (-4.10%), AKBL (-1.56%), and SCBPL (-1.51%).

In terms of index-point contributions, companies that propped up the index were MARI (+199.16pts), MTL (+110.64pts), UBL (+98.64pts), SRVI (+89.90pts), and FFC (+66.27pts).

Meanwhile, companies that dragged the index lower were ENGROH (-282.15pts), BAFL (-27.54pts), PKGP (-22.40pts), MCB (-16.51pts), and JDWS (-16.08pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+226.71pts), Commercial Banks (+194.82pts), Automobile Assembler (+136.02pts), Fertilizer (+112.51pts), and Pharmaceuticals (+92.47pts).

While the index was let down by Inv. Banks / Inv. Cos. / Securities Cos. (-279.39pts), Sugar & Allied Industries (-16.08pts), Miscellaneous (-10.01pts), Tobacco (-2.21pts), and Close - End Mutual Fund (-1.34pts).

In the broader market, the All-Share Index closed at 70,975.99 with a net gain of 658.84 points or 0.94%.

Total market volume was 521.21 million shares compared to 499.85m from the previous session while traded value was recorded at Rs28.29 billion showing an increase of Rs3.46bn.

There were 297,283 trades reported in 448 companies with 279 closing up, 116 closing down, and 53 remaining unchanged.

To note, the KSE-100 has gained 35,785 points or 45.62% during the fiscal year, whereas it has decreased 897 points or 0.78% so far this calendar year.

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