Banks drive KSE-100 rally with a 1,050-point surge

Banks drive KSE-100 rally with a 1,050-point surge

Karachi, January 31, 2025: The KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a significant surge on Friday, gaining 1,050 points, largely fueled by robust activity in the banking sector.

The KSE-100 closed at 114,256 points, marking an increase from the previous day’s closing of 113,206 points.

According to analysts at Topline Securities Limited, the KSE-100 continued its bullish momentum from the previous session, rising by 0.93% to settle at 114,256 points. The positive sentiment in the market was driven by a recent downturn that opened opportunities for value investors to capitalize on lower prices.

Banking Sector Leads Market Surge

The rally was led by the banking sector, which surged 2.2%, significantly contributing to the index’s gains. United Bank Limited (UBL), National Bank of Pakistan (NBP), Bank AL Habib Limited (BAHL), Meezan Bank Limited (MEBL), Askari Bank Limited (AKBL), and Habib Bank Limited (HBL) collectively added 621 points to the KSE-100 index.

Key Trading Highlights

• Traded value was dominated by MARI (Rs 2.3 billion), LUCK (Rs 1.26 billion), SEARL (Rs 1.09 billion), NBP (Rs 897 million), and OGDC (Rs 832 million).

• LUCK continued to attract investor interest following its earnings announcement. The company posted a 2QFY25 EPS of Rs 73.17, reflecting a 22% year-on-year (YoY) and 20% quarter-on-quarter (QoQ) increase, surpassing market expectations. As a result, LUCK surged 6%, adding 191 points to the KSE-100.

• The auto sector also saw renewed investor interest, with SAZEW rising 6% after a period of sluggish trading. The stock’s positive movement was attributed to optimism surrounding its four-wheeler brand HAVAL and its anticipated January sales numbers.

Market Performance Metrics

• Total traded volume stood at 542 million shares, reflecting a 12% increase day-on-day (DoD).

• The total traded value for the session reached Rs 27.95 billion, marking an 8% rise DoD.

With the KSE-100 continuing its upward trajectory, investors remain optimistic about sustained market performance, particularly as banking stocks continue to drive gains and institutional investors seek value opportunities.