Karachi, The stock market in Karachi witnessed slight growth this week, with the KSE100 index closing at 65,152 points, marking a 0.5% increase despite uncertainties over interest rate decisions and fiscal policy adjustments. The market's initial positive momentum was somewhat dampened by anticipation and eventual confirmation of the State Bank of Pakistan (SBP) maintaining the interest rate at 22%.

According to AKD Securities Limited, the Monetary Policy Committee's decision to hold interest rates steady was anticipated by the market and had been factored into prices. The week also saw the conclusion of discussions with the International Monetary Fund (IMF) on the second review of the Stand-By Arrangement (SBA), which culminated in a staff-level agreement, injecting optimism into the market. The talks highlighted future fiscal strategies, notably proposals to expand the tax base, including plans to tax retailers through electricity bills—an initiative shared with the IMF.

Further IMF recommendations included removing General Sales Tax (GST) exemptions on petroleum products, raising concerns about potential inflationary pressures from proposed increases in gas prices by Sui companies and the implementation of an 18% GST on petroleum, oil, and lubricants (POL) products. Despite these risks, the weekly inflation rate showed signs of easing.

Economic indicators revealed a positive current account balance for February 2024, with a surplus of $128 million, significantly narrowing the eight-month Fiscal Year 2024 current account deficit to just below $1 billion. This financial improvement contributed to a slight increase in the SBP's reserve position, which rose by $105 million week-over-week, totaling $8.0 billion as of March 15.

Market activity increased by 13% from the previous week, with average daily traded volume reaching 323 million shares. Key financial developments during the week included a $6.678 billion borrowing from various sources for July-February 2023-24, a 17.1% drop in Foreign Direct Investment (FDI) to $820.6 million, a 32% increase in IT exports to $257 million for February, and a Supreme Court order for the National Bank of Pakistan to pay Rs60 billion in pensions to retired employees.

Sector performance was mixed, with transport, investment banks/securities companies, and tobacco sectors leading gains, while synthetic and rayon, cement, and refinery sectors lagged. Notable corporate movements included significant net selling by companies and substantial net buying by insurance companies.

Top performers for the week were NBP, DAWH, PTC, CEPB, and MEBL, while NRL, PIOC, CNERGY, HCAR, and FCCL were among the biggest laggards.

Karachi, The Pakistan Stock Exchange (PSE) has experienced significant shifts in its main board data over the last six months, reflecting dynamic market conditions from September 2023 to February 2024. Key metrics such as listed capital, market capitalization, turnover of shares, and indices like the KSE 100 and KSE All Share have all seen notable changes.

In September, the listed capital stood at 6,885,570.255 million Rs., with a market capitalization of 3,447.734 million Rs. The turnover of shares included 1,621.924 million in the ready market and 46,232.590 million in future contracts, leading to KSE 100 and KSE All Share Indices closing at 31,158.710 and 46,232.590, respectively.

October saw a substantial increase, with listed capital reaching 7,551,772.884 million Rs. and market capitalization soaring to 8,404.818 million Rs. Turnover of shares in the ready market and future contracts grew to 2,531.777 million and 51,920.270 million, respectively, pushing the KSE 100 Index to 34,558.220 and the KSE All Share Index to 51,920.270.

November marked further growth, with listed capital at 8,729,523.266 million Rs. and market capitalization hitting 14,056.434 million Rs. Share turnover increased to 3,686.656 million in the ready market and 60,531.270 million in future contracts. The indices rose to 40,324.280 for the KSE 100 and 60,531.270 for the KSE All Share.

December's data showed a continued upward trend in listed capital, reaching 9,062,902.809 million Rs., and market capitalization escalated to 21,165.662 million Rs. The turnover of shares reached 5,347.305 million in the ready market and 62,451.040 million in future contracts, with the indices standing at 41,916.270 for the KSE 100 and 62,451.040 for the KSE All Share.

January observed a slight adjustment with listed capital at 9,073,759.924 million Rs. and market capitalization at 11,737.426 million Rs. Share turnover was 4,167.581 million in the ready market and 61,979.180 million in future contracts, with the indices recording 41,892.680 for the KSE 100 and 61,979.180 for the KSE All Share.

February showed a reduction in market capitalization to 7,190.089 million Rs., though listed capital increased to 9,225,160.480 million Rs. Share turnover decreased to 2,884.350 million in the ready market and 64,578.520 million in future contracts. The month closed with the KSE 100 Index at 42,840.890 and the KSE All Share Index at 64,578.520.

These trends highlight the evolving landscape of Pakistan's financial market, with fluctuations in key indicators pointing towards a period of adjustment and growth across the board.

Karachi, The Pakistan Stock Exchange (PSE) experienced mixed movements in its major indices and trading volumes on March 22, 2024. The market dynamics reflected varying investor sentiments across different sectors, with a notable shift in turnover and market capitalization.

In the ready market, the day ended with 120 companies advancing, 185 declining, and 27 remaining unchanged out of a total of 332 listed companies. Similarly, the future market saw 99 companies advancing, 208 declining, and 6 unchanged out of 313 companies.

Key indices showed a general decline, with the KSE 30 Index closing at 21,448.04, down by 86.52 points. The KSE 100 Index decreased by 265.57 points, finishing at 65,151.83. The KSE All Share Index dropped by 259.14 points to 43,240.78. Other indices, including KMI 30, KMI All Share, BKTI, and OGTi, also witnessed declines, reflecting a cautious approach by the investors.

The market turnover showed a significant change from the previous session. The regular (REG) market turnover was 208,408,686, down from 389,654,899 in the previous session. The traded value in the REG market decreased to 7,149,647,156 from 11,307,187,593. The market capitalization also saw a slight decrease from 9,226,042,840,982 to 9,170,943,672,630.

Among the companies with significant turnover, Pak Reinsurance led with 24,162,000 shares traded, followed by P.I.A.C. (A) with 16,544,000 shares and P.T.C.L. with 10,930,294 shares. Other notable companies included WorldCall Telecom, Agritech Limited, and Hascol Petroleum.

Rafhan Maize Products Company Limited stood out with an increase of 175.00 in its rate, closing at 8,400.00. On the other hand, Nestle Pakistan Limited saw a decrease of 310.00, closing at 7,200.00. Other companies like Hoechst Pakistan Limited and Sapphire Textile Mills Limited also experienced declines in their rates.

This trading day highlighted the dynamic and fluctuating nature of the Pakistan Stock Exchange, with diverse performances across different sectors and companies.