Karachi, The Karachi Stock Exchange (KSE-100) experienced a significant upturn, breaching the psychological resistance mark of 66,000 before settling at 65,952, marking a gain of 626 points. The energy and production (E and P) sector drew major interest, contributing prominently to the day’s positive performance. the Research Department of JS Global Capital Limited, trading volume reached 473 million shares, with key players such as KOSM, WTL, KEL, PTC, and OGDC leading in volume.

According to JS Global, highlights the momentum in the KSE-100 index, which has seen a year-to-date increase of 5.61% in 2024, attributing the surge to substantial activity in the Banking, Cement, and E and P sectors. The report anticipates the continuation of this upward trend, advising investors to capitalize on any market downturns as opportunities for purchase.

Further insights reveal the market's dynamics, showcasing significant gainers like OGDC, which saw a 7.17% increase, and notable losers, including PGLC, which experienced a 9.19% decline. The overall market capitalization of the PSX rose to Rs 9,402.28 billion, reflecting a 0.97% increase from the previous day, underscoring the market's resilience and investor confidence.

The JS Global report also provides a broader perspective on regional markets, comparing the KSE-100's performance with indices in China, India, Indonesia, Korea, Malaysia, the Philippines, and Taiwan. This comparative analysis situates the Karachi Stock Exchange's gains within a wider economic context, indicating a positive trend across several major Asian markets.

This comprehensive snapshot, while emphasizing the day's achievements, also serves as a caution, reminding investors of the importance of due diligence and professional advice given the inherent uncertainties in the market. The report underscores that its findings should not be construed as a reflection on the management or performance abilities of the companies mentioned, but rather as an objective analysis based on available data.