Pakistan Stock Exchange Opens the Week on a Bullish Note
Market Overview
- Positive Start: The Pakistan Stock Exchange (PSX) started the business week with a significant gain. The benchmark KSE-100 index rose by 1,529.17 points, marking a 1.36% increase and closing at 114,330.10 points, up from 112,800.93 points in the previous session.
Trading Activity
- Volume and Value: A total of 455,533,414 shares were traded on Monday, slightly higher than the previous trading day’s 455,394,404 shares. The total value of shares traded stood at Rs 25.888 billion, compared to Rs 21.524 billion on the last working day.
Market Performance
- Gains vs Losses: Of the 440 companies that traded shares, 176 recorded gains, 211 posted losses, and 53 saw no change in their share prices.
- Top Traders: The top three companies by trading volume were:
- At-Tahur Limited: 43,118,680 shares at Rs 28.00 each
- K-Electric Limited: 27,220,140 shares at Rs 4.79 each
- Fauji Cement: 25,755,312 shares at Rs 42.47 each
Price Movements
- Top Gainers:
- Unilever Pakistan Foods Limited saw the biggest increase, rising Rs 102.50 per share, closing at Rs 23,002.50.
- Abbott Laboratories (Pakistan) Limited followed with a Rs 57.79 increase, closing at Rs 1,098.54.
- Top Losers:
- Nestle Pakistan Limited experienced the largest decline, falling by Rs 45.84 per share to close at Rs 7,300.00.
- Rafhan Maize Products Company Limited saw a Rs 28.58 drop, closing at Rs 9,365.75.
International Developments
- IMF Mission: In a major development, the International Monetary Fund (IMF) mission will arrive in Islamabad next month for discussions on the first review under Pakistan’s Extended Fund Facility (EFF) program.
- Global Market Impact: Meanwhile, European shares rose and Wall Street futures strengthened, driven by optimism surrounding upcoming earnings results, especially from AI sector leader Nvidia.
Conclusion
The PSX kicked off the week on a strong note, reflecting increased investor interest and trading activity. Positive developments in international markets and expectations surrounding the IMF’s review contribute to a cautiously optimistic outlook for the market.
