Karachi, Late buying in Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) spurred gains in the Karachi Stock Exchange (KSE100) index, which closed up by 230 points at 70,545. The market showed volatility, with the index dipping to a low of 69,914 before rebounding, driven by positive movements in the Auto, Cement, and Refinery sectors. Market turnover also saw an increase, with significant trading volumes recorded across several sectors.

According to JS Global, the market performance was detailed in a comprehensive report which underscored the significant role of specific sectors and stocks in influencing the KSE100 index. The report highlighted that the total market turnover reached 555 million shares, with WorldCall Telecom (WTL), Fauji Cement Company Limited (FCCL), Fauji Fertilizer Company Limited (FFL), Cnergyico PK (CNERGY), and Pakistan International Airlines Corporation (PIAA) leading in volume. Analysts at JS Global expect further gains in the market amidst high volatility.

The report also includes detailed insights into the performance of the KSE30 and KSE100 indices, noting a day-on-day increase in the KSE100 of 229.86 points, or 0.33 percent. Year-to-date, the KSE100 has risen by 12.96 percent, demonstrating robust growth compared to the previous fiscal year. The research indicated that significant contributors to the index’s performance included top stocks like The Hub Power Company, Meezan Bank Ltd, and Fauji Fertilizer Company, among others.

JS Global Capital Limited emphasized that their market analysis is intended for informational purposes and should be used as a guide for investment decisions. They also advised investors to consider their individual financial situations and seek additional professional advice as needed. The report may not be reproduced without authorization, highlighting its proprietary nature.