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Brokers are busy in trading at Pakistan Stock Exchange (PSX) in Karachi on Thursday, October 17, 2024. — PPI/File
#Stocks #points #strong #corporate #earnings
KARACHI: Pakistan Stock Exchange (PSX) saw another positive meeting on Wednesday. Benchmark KSE-100 Index increased by 254 points among strong corporate income.
The SE -100 index of the Pakistan Stock Exchange (PSX) benchmark increased by 253.96 points, or 0.22 percent, up to 113,342.44 points, which increased from 113,088.48 points in the last session. The highest index of the day was 114,029.76 points, while the lowest level was recorded at 113,060.26 points.
Arif Habib Corporation analyst, Ahsan Mahani, said the stocks stopped the PSX when the income season is underway, which is driven by the strong investors’ sentiment.
Data showing foreign direct investment (FDI) renewed a 56 % increase in July 2025 to $ 1.52 billion in July 2025 and Saudi Arabia’s oil pay for another year, whose Expectations are expected to strengthen the rupee, which further strengthens the market’s hope.
He said that governmental consideration about the privatization of government businesses (SOE), the World Bank’s investment of more than $ 40 billion, rise in global crude oil prices, and strong export data. Has played a key role in the faster market.
However, the KSE -30 index fell by 16.66 points or 0.05 percent to 35,292.24 points against 35,308.9 points. The commercial value increased from Rs 20.741 billion to Rs 25.734 billion. Market Capital increased by Rs 13.98 trillion to Rs 13.98 trillion. Of the 451 companies operating in the session, 236 were closed in green, 146 in red, and 69 changed.
Topline securities analyst Mazar Millah said the local course kept its faster since the last session, as investors’ sentiment was encouraged, which is driven by strong corporate income.
He said that this positive pace was primarily fueling with a better anticipated corporate result, which reinforced investors’ confidence and encouraged fresh purchases in several sectors.
The upper market movement was largely supported by FFC, Bahala, MTL, SYS, and HC, which collectively supported 433 points in the index. However, UBL, Destiny, Hub C, HBL, PPL, and OGDC weighing in the market, which reduced the joint 619 points.
The highest increase was recorded in Neelam Fibers Limited, which increased to Rs 599.03 to Rs 1,098.99, followed by Unilever Pakistan Foods Limited, which increased by Rs 41.96.
A significant reduction was noted in Lucky Cement Limited, which was reduced by Rs 57.48 to Rs 1,402.17 per share, followed by Happy Textile Limited, which closed at Rs 3313.73 per share.
Brokening Arif Habib Limited said that the KSE -100 index fulfilled its weekly purpose with 113.5k, which reached 114k during the session. On the policy front, Pakistan’s Finance Ministry announced plans to reduce the tax rate by 42 % on banks. 2027 tax years.
The KSE -100 is displaying a top trend on the daily time frame, which has gone above the height of the week. It is expected that assistance between the 112.5K-113K range is expected, with the next target set at 116K.
KK Electric Limited remained the volume leader with 180.890 million shares, which closed at Rs 4.88 per share by 65 money. Bank of Punjab, with 53.761 million shares, followed it, which closed 29 bucks for Rs 12.94 per share.
Other important stocks of the business include military cement, world call telecom, cohinor spinning, DG’s cement, loot chemicals, National Bank XD, Kanarazico PK and Athar Limited. 4 No change.
