Pakistan Stock Exchange (PSX) started the new year with a bang after the benchmark KSE-100 index recorded its second-highest single-day gain in history on Monday.
The benchmark KSE-100 index witnessed massive gains of 2,211 points at today’s close, up 3.54 percent DoD and just 235 points shy of the record of 2,446 points seen on 3 July 2023. This surge represents the second-highest point increase in its history, according to Arif Habib Limited.
KSE-100 Witnessed Second-highest point increase in its history
The KSE100 index recorded a substantial gain of 2,211 points, marking a significant increase of 3.54% DoD, closing at 64,662, this surge represents the second-highest point increase in its history.@Pakstockexgltd… pic.twitter.com/D5OgqOPwBk
— Arif Habib Limited (@ArifHabibLtd) January 1, 2024
After opening trade, the market showcased bullish sentiments, with the benchmark KSE-100 index gaining over 1,500 points and rising above 63,900 within the first hour of trade.
At the end of the day, the KSE-100 index closed at the 64,661 level, breaching two barriers of 63,000 and 64,000 in a single session.
During the trading hours, bullish sentiment hit the roof as massive buying was seen across the board where investors celebrated some resolution of the highly uncertain political environment over the last few days.
Around 625 million shares were traded at the exchange, with 326 of the 377 active scrips advancing in value, 36 declining, and 15 remaining unchanged.
Top Volumes
Power Generation & Distribution, Refinery, and Technology & Communication sector stocks contributed positively to the exchange today where K-Electric Limited (PSX: KEL), Worldcall Telecom Limited (PSX: WTL), Cnergyico PK Limited (PSX: CNERGY), The Bank of Punjab (PSX: BOP), Fauji Foods Limited (PSX: FFL), and Pakistan Refinery Limited (PSX: PRL) showed the highest activity in terms of shares traded.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| KEL | 5.48 | 5.49 | 5.27 | 0.18 | 76,430,706 |
| WTL | 1.58 | 1.58 | 1.41 | 0.16 | 61,550,634 |
| CNERGY | 5.3 | 5.34 | 4.99 | 0.37 | 54,945,823 |
| BOP | 6.95 | 6.99 | 6.48 | 0.46 | 32,263,113 |
| FFL | 11.41 | 11.58 | 11.23 | 0.26 | 28,210,754 |
| PRL | 31.38 | 31.38 | 29.39 | 2.19 | 19,531,948 |
| PTC | 13.1 | 13.1 | 12.31 | 0.71 | 19,491,500 |
The main bourse is building on 2023’s sudden recovery in prices accompanied by significant improvement in trading activity with volumes (ready/cash) per day at PSX up 41 percent to 323 million shares/day in 2023 which was the highest since 2021.
Pakistan’s KSE-100 Index was amongst the three best-performing markets in 2023. However, in US Dollar terms, it did not rank among the top 10.
