KSE-100 Index Recovers 928 Points Ahead Weekly Holidays

KSE-100 Index Recovers 928 Points Ahead Weekly Holidays

Karachi, December 27, 2024 – The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged an impressive recovery on Friday, gaining 928 points ahead of the weekly holidays. The KSE-100 Index closed at 111,351 points, up from the previous day’s closing of 110,423 points, reflecting an increase of 0.84%.

According to analysts at Topline Securities Limited, the recovery was driven by positive trading sentiment as the KSE-100 Index remained largely in the green throughout the session. Key developments, including investor interest and corporate disclosures, played a significant role in boosting market activity.

Trading activity on the KSE-100 Index was dominated by leading stocks, with TRG Pakistan, Mari Petroleum (MARI), Pakistan State Oil (PSO), Oil and Gas Development Company (OGDC), and Meezan Bank Limited (MEBL) accounting for the highest traded values. TRG alone recorded a traded value of Rs 2.92 billion, followed by MARI at Rs 2 billion, PSO at Rs 1.77 billion, OGDC at Rs 1.28 billion, and MEBL at Rs 835 million.

The top contributors to the KSE-100 Index were MARI, MEBL, PSO, Bank Alfalah Limited (BAFL), and TRG, collectively adding 416 points to the index. TRG remained a focal point of investor interest following the announcement by Greentree Holdings, a substantial shareholder, of its intention to acquire up to 35.145% of TRG Pakistan’s stake. This development further energized the market, solidifying TRG’s position as one of the top performers.

The session saw a robust trading volume, with 815 million shares exchanging hands. The total traded value amounted to Rs 32.9 billion, equivalent to approximately $118 million, showcasing heightened market participation.

Market experts view the strong recovery in the KSE-100 Index as a positive sign of investor confidence, particularly ahead of the weekend. The momentum observed in today’s session reflects optimism in key sectors and is expected to sustain in the upcoming trading sessions. With the KSE-100 Index rebounding significantly, investors anticipate continued activity and potential gains in the near term.