PSX Closing Bell: Top of the World

November 19, 2024 (MLN): Pakistan stocks extended their record-breaking rally on Tuesday as positive macroeconomic indicators continued to boost sentiment.

The benchmark KSE-100 Index concluded Tuesday's trading session at 95,856.66, showing an increase of 860.99 points or 0.91%. That was the gauge's 55th record close this year.

The index remained positive throughout the day showing an intraday high of 96,036.48 (+1,040.81) and a low of 95,212.63 (+216.96) points.

The total volume of the KSE-100 Index was 377.89 million shares.

Official report Monday showed the economy continues to move toward stability. Pakistan's current account posted a surplus for the third consecutive month driven by robust growth in remittances and exports, which more than offset the increase in imports.

The gap in current account, the broadest measure of trade and investment, showed a surplus of $349m in October. That turned the current account in 4MFY25 to a surplus of $218m, compared to $1.53 billion deficit in 4MFY24.

Of the 100 index companies 63 closed up, 34 closed down, 2 were unchanged, while 1 remained untraded.

Top gainers during the day were LOTCHEM (+10.03%), AGP (+10.00%), SYS (+8.61%), PTC (+8.03%), and GHGL (+7.77%).

On the other hand, top losers were PSX (-1.95%), KOHC (-1.67%), PAKT (-1.39%), LUCK (-1.16%), and PGLC (-0.93%).

In terms of index-point contributions, companies that propped up the index were SYS (+248.86pts), UBL (+95.05pts), ABOT (+48.25pts), PSO (+47.75pts), and EFERT (+44.23pts).

Meanwhile, companies that dragged the index lower were LUCK (-35.10pts), MARI (-30.81pts), ENGRO (-19.92pts), POL (-16.88pts), and HUBC (-16.79pts).

Sector-wise, KSE-100 Index was supported by Technology & Communication (+287.16pts), Pharmaceuticals (+149.21pts), Commercial Banks (+146.41pts), Fertilizer (+60.48pts), and Oil & Gas Marketing Companies (+49.59pts).

While the index was let down by Cement (-47.81pts), Inv. Banks / Inv. Cos. / Securities Cos. (-8.31pts), Tobacco (-7.05pts), Textile Composite (-3.75pts), and Engineering (-3.39pts).

In the broader market, the All-Share Index closed at 61,205.63 with a net gain of 494.56 points or 0.81%.

Total market volume was 830.93 million shares compared to 765.21m from the previous session while traded value was recorded at Rs30.02 billion showing an increase of Rs6.09bn.

There were 335,564 trades reported in 460 companies with 249 closing up, 156 closing down, and 55 remaining unchanged.

To note, the KSE-100 has gained 17,412 points or 22.20% during the fiscal year, whereas it has increased 33,406 points or 53.49% so far this calendar year.

Stocks are expected to rally further by at least over 25% by the end of 2025 on the back of improving macro indicators and falling bond yields, according to analysts.

National Clearing Company of Pakistan (NCCPL) data showed new unique registered investor base on the Pakistan Stock Exchange was recorded at 10,001 in October 2024, bringing the total active number of accounts to 345,290.

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