ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a strong buying rally on Monday and gained 3,907.82 points or 3.51% before closing at 115,259 points.
The buying was observed in key sectors including automobile assemblers, cement, chemical, commercial banks, fertiliser, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks including HUBCO, OGDC, MARI, PPL, POL, PSO, SNGPL, HBL, MEBL, NBP, and MCB traded in the green.
On Monday a total of 1,059,020,119 shares were entertained during the day as compared to 815,920,043 shares the last working day, while the price of shares stood at Rs 40.889 billion against Rs. 32.917 billion on the previous trading day.
As many as 465 companies transacted their shares in the stock market, 333 of them registered gains, and 84 met losses, whereas the share price of 48 companies remained unchanged.
The three top trading companies were Cnergyico PK with 125,613,935 shares at Rs 7.44 per share, followed by WorldCall Telecom with 111,551,930 shares at Rs 1.83 per share whereas Bank of Punjab settled with 84,182,656 shares at Rs.10.47 per share.
Unilever Pakistan Foods Limited recorded a maximum increase of Rs.351.23 per share price, closing at Rs 21,133.87, whereas Rafhan Maize Products Company Limited was the runner-up with Rs 92.12 rise in its per share price to Rs 8,980.56.
Khyber Textile Mills Limited witnessed a maximum decline of Rs 60.39 per share closing at Rs 578.73 followed by PIA Holding Company Limited with a fall of Rs 58.78 to close at Rs.832.28.
During the outgoing year, PSX has emerged as the top performer among Pakistan’s asset classes in 2024, with the benchmark KSE-100 Index rising to 78%, making the stock market the second-best performer globally after Argentina, said Topline Securities in a report.
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“Over the past 18 months, the PSX delivered a 177% USD return (169% in PKR), driven by macroeconomic stabilization and improvements in external accounts,” it said.
According to the experts, the KSE-100 is expected to hit 165,215 points by December 2025.
Globally, Asian shares edged lower on Monday as high Treasury yields challenged lofty Wall Street equity valuations while underpinning the US dollar near multi-month peaks.
Trading volumes were light as the New Year holiday approached, and the data calendar for the week remained relatively sparse. China is set to release its PMI factory surveys on Tuesday, while the U.S. ISM survey for December is scheduled for Friday.
