The local bourse kicked off the New Year on a powerful note, as aggressive buying by local mutual funds set the tone for a decisive bullish session.
Topline Securities said there was optimism around a potential rate cut in the upcoming monetary policy meeting, which fueled risk appetite, driving broad-based participation across the market.
The benchmark index surged to an intraday high of 4,929 points before settling at 182,408, marking a robust gain of 3,373 points (up 1.88%). The strong close near the day’s peak underscored firm investor confidence and signaled a buoyant start to the year for equities.
Top positive contributions to the index came from UBL, HBL, ENGROH, MCB, EFERT and FFC, as they cumulatively contributed +1,853 points to the index.
Top Stocks
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| BOP | 43.09 | 44.17 | 42.6 | 0.76 | 95,463,191 |
| PIBTL | 21.78 | 22.07 | 20.18 | 1.63 | 79,721,729 |
| KEL | 6.34 | 6.5 | 6.21 | -0.01 | 75,183,971 |
| TELE | 12.87 | 13.01 | 11.83 | 1.04 | 74,355,620 |
| HASCOL | 17.22 | 17.65 | 16.33 | 0.89 | 63,514,102 |
| WTL | 1.84 | 1.86 | 1.77 | 0.05 | 57,180,157 |
| MDTL | 5.68 | 6.39 | 5.41 | -0.16 | 48,393,689 |
Traded volume and value for the trading session stood at 1.3bn and Rs. 77.9 billion, respectively. BOP emerged as volume leader with 95 million shares exchanging hands.
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