Karachi: The KSE-100 index witnessed a significant surge, climbing 1,378 points to close at 84,910. The trading session saw an increase in trading volumes, with 450 million shares traded, up from 382 million in the previous session. This rise was supported by strong investor interest in the Energy and Production (E and P) and Fertilizer sectors.

According to JS Global, the index experienced broad-based buying with notable activity in PPL, HUBC, FCCL, KOSM, and OGDC, which were among the top volume leaders of the day. The firm recommends investors view any market dips as buying opportunities, particularly highlighting the Textile and Auto sectors as attractive for investment.

The financial performance across various sectors underpinned the index’s gain, with significant contributions from the banks and fertilizer sectors, consistent with trends observed throughout the year. Additionally, the outlook for the consumer price index (CPI) suggests a potentially lower inflation rate than previously anticipated for October 2024, with expectations of a CPI reading below 7%.

JS Global further detailed that for October 2024, a 1% month-on-month uptick could result in a year-on-year CPI of 6.9%, while a zero uptick might reflect a CPI of 5.9% year-on-year. With the real interest rate (RIR) possibly expanding beyond 11 points in October, the firm underlines the importance of aligning investment strategies with the evolving economic indicators.

JS Global looks forward to continuing its series of market outlook events to guide its clients through the complexities of financial markets and investment opportunities.