Karachi, December 4, 2024 – The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) achieved a historic milestone on Wednesday, closing above the 105,000-mark for the first time. The index gained 545 points to settle at 105,104, up from the previous day’s close of 104,559.
This remarkable performance comes amid increased investor confidence and positive market sentiment. Analysts at Arif Habib Limited described the session as choppy but significant, with the KSE-100 Index breaking its psychological resistance level of 105,000.
Of the actively traded stocks, 54 shares advanced, while 44 declined. Key contributors to the index’s gains included Mari Petroleum Company Limited (MARI), which rose by 5.05%, Hub Power Company Limited (HUBC) with a 3.55% gain, and Airlink Communication Limited (AIRLINK), which soared by 8.65%.
On the flip side, some heavyweights dragged the index. Habib Bank Limited (HBL) dropped by 2.51%, MCB Bank Limited (MCB) fell by 1.07%, and Service Industries Limited (SRVI) declined by 3.47%.
Notable individual performances included Pakistan Telecommunication Company Limited (PTC), which surged by 10.0%, Pakistan Aluminium Beverage Cans Limited (PABC) up by 9.64%, and BF Biosciences Limited (BFBIO), which climbed 7.82%.
The KSE-100 Index has continued its upward trajectory, supported by technical levels at 100,000, which analysts view as a strong base for further growth. The rally reflects robust investor activity amid improving macroeconomic indicators, particularly in the wake of rising foreign exchange reserves and declining inflation rates.
Market experts attribute the surge to a combination of factors, including expectations of monetary easing, enhanced corporate profitability, and renewed foreign investor interest. The PSX has also benefited from reforms aimed at improving market transparency and accessibility for both local and international investors.
With this historic close, market participants remain optimistic about further gains in the coming sessions, although analysts caution that profit-taking may occur at these elevated levels. The KSE-100’s performance underscores the resilience of Pakistan’s equity market, even amidst global economic uncertainties.
As trading continues, the market’s ability to maintain momentum above the 105,000 threshold will be a key focus for investors and analysts alike.