Karachi, The Pakistan Stock Exchange (PSX) exhibited a positive trend as the KSE100 index closed up by 374 points. The session witnessed active trading with a total volume of 261 million shares, indicating robust participation from investors. Notably, the banking sector reported the highest fresh banking spreads in February 2024, signaling strong performance and investor confidence in the financial markets.

According to JS Global, the PSX snapshot highlighted significant gains in both the KSE30 and KSE100 indices, with the KSE100 index achieving a day-over-day increase of 373.82 points or 0.57 percent, settling at 65,525.65. The year-to-date (YTD) returns for CY24 and FY24 for the KSE100 index stood impressively at 4.92 percent and 58.07 percent, respectively, underscoring the market's positive trajectory. Among the gainers, National Bank of Pakistan (NBP), Pakistan Telecommunication Company Limited (PTC), and Engro Fertilizers Limited (EFUG) led with notable percentage increases in their share prices.

The report also highlighted the market's losers, with BankIslami Pakistan Limited (BIPL) and Service Industries Limited (SRVI) experiencing declines in their stock values. Despite these fluctuations, the overall market capitalization increased, with the PSX Market Cap reaching Rs 9,211.86 billion, a 0.45 percent rise from the previous day.

Further insights from JS Global pointed to February 2024 as a record month for fresh banking spreads, which clocked in at 10.59 percent. This figure represents a significant indicator of the banking sector's profitability and the wider economic environment, with lending rates and deposit rates also detailed in the report.

The analysis concluded with a positive outlook for the PSX, recommending investors to see any downside as an opportunity to invest in the Banking, Exploration and Production (E and P), and Technology sectors. This advice reflects a strategic perspective on capitalizing on market trends and potential growth areas within Pakistan's financial markets.