Karachi, February 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a turbulent trading session on Monday, with the benchmark KSE-100 index surging by 1,529 points or 1.36%.
Despite a rocky start, the KSE-100 index ended the day at 114,330 points, up from last Friday’s closing level of 112,801 points.
According to analysts at Topline Securities Limited, the KSE-100 index commenced the week on a bearish note, experiencing an initial plunge of 943 points. The downturn was primarily triggered by investor concerns regarding the court’s decision to uphold the windfall tax. Market sentiment remained fragile as the Federal Board of Revenue (FBR), in compliance with the Sindh High Court’s ruling, managed to recover Rs 23 billion in a single day from 16 banks, further unsettling investors.
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However, as the session progressed, the KSE-100 index witnessed a strong rebound, led by a surge in the exploration and production (E&P) sector. The market staged an impressive recovery, hitting an intraday high of 1,772 points. Investor confidence improved significantly after reports suggested that the government was prioritizing efforts to resolve the ongoing circular debt crisis.
Media sources revealed that authorities are considering a range of solutions, including a proposed PKR 1.2 trillion borrowing plan from banks, benefiting from the recent decline in interest rates. Additionally, the government is focusing on finalizing the term sheet before the arrival of the International Monetary Fund (IMF) mission, which further reinforced market optimism and helped sustain the KSE-100’s positive momentum.
Ultimately, bullish sentiment dominated, propelling the KSE-100 index to close at 114,330 points, marking a gain of 1,529 points (1.36%). The rally was driven by notable contributions from FFC, MCB, OGDC, PPL, and UBL, which collectively added 810 points to the index. Meanwhile, stocks like HBL, AKBL, NBP, MTL, PSX, and LCI acted as a drag, collectively erasing 189 points from the session’s gains.
Market activity remained robust, with daily traded volumes witnessing a substantial increase. A total of 455 million shares were traded, generating a turnover of Rs25.8 billion. PREMA emerged as the volume leader, with 43.11 million shares exchanged. The strong recovery in the KSE-100 index reflects growing investor confidence and optimism surrounding economic reforms and policy measures.