PSX Sees Positive Movement with Notable Gains in Key IndicesPakistan Stock Exchange Reports Notable Market Movements on March 25, 2024Pakistan Stock Exchange Sees Modest Gains in Key Indices

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PSX Sees Positive Movement with Notable Gains in Key IndicesPakistan Stock Exchange Reports Notable Market Movements on March 25, 2024Pakistan Stock Exchange Sees Modest Gains in Key Indices

March 25, 2024

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.

Karachi, The Pakistan Stock Exchange (PSE) witnessed significant activity in its latest trading session on March 25, 2024. Major market indices showed upward movement with the KSE100 index closing at 65,525.65, marking an increase of 373.82 points. The KSE30 and KSEALLSHR indices also saw gains, closing at 21,579.01 and 43,433.03, respectively.

In the ready market, PTCL led with a significant turnover, closing at 15.70 after starting at 14.30, reflecting a robust investor interest. Hascol Petrol and K-Electric Ltd. were also among the top movers, with Hascol closing at 8.08 and K-Electric at 4.57. Noteworthy increases were observed in the share prices of Oil & Gas Dev., Pak Reinsurance, and The Searle Company, indicating a positive market sentiment.

In contrast, certain companies witnessed a decrease in their share rates. Notably, Rafhan Maize Products and Sapphire Textile Mills experienced notable drops, closing at 8,200.11 and 1,479.83, respectively.

The futures market also showcased active trading, with significant turnover noted in contracts for PTC-MAR and TRG-MAR. OGDC-MARB and PPL-MARB shares were actively traded, reflecting investor interest in oil and gas sector futures.

The session concluded with a clear upward trend in several major stocks and indices, suggesting a positive outlook among investors. Market analysts closely monitored these changes, reflecting the ongoing dynamics and investor sentiment in the Pakistan Stock Exchange.

Karachi, The Pakistan Stock Exchange (PSX) experienced modest gains across several key indices on the trading day of March 25, 2024, as detailed in the latest market report. The benchmark KSE-100 Index saw an increase of 373.82 points, closing at 65,525.65, which is a 0.57% change from the previous day. The KSE-30 Index also witnessed gains, closing at 21,579.01, up by 130.97 points, marking a 0.61% increase.

Notably, the KMI-30 Index, representing the performance of companies included in the Meezan Index series, showed the highest percentage gain among the major indices, closing at 110,044.87 after a 0.74% rise. The OGTi Index, which tracks the oil and gas sector, posted the largest numerical increase of 209.40 points, ending the day at 15,584.57, translating to a significant 1.36% change.

The day's trading concluded with 145 advancers and 169 decliners, showing a balanced contest between gaining and losing stocks. The Main Board, which consolidates the market data, listed 524 companies with a total traded volume of 261,194,334 shares and a traded value of PKR 8,945,891,500.

In contrast, the GEM Board, aimed at growth enterprises, remained inactive with no traded volume or value, listing only three companies. The PSX also reported on the publicly issued and privately placed debt securities, with total issue sizes of PKR 71 billion and PKR 513.013 billion, respectively.

Open-end mutual funds listed on the exchange numbered at 232, while the number of listed ETFs stood at 8. The report concludes with updates on various other indices, including the PSX-KMI-All-Shares and the PSX Dividend 20, reflecting various degrees of changes, both positive and negative.

This day's market performance provides a snapshot of the trading dynamics on the Pakistan Stock Exchange, with particular attention to the key indices that serve as barometers for the overall market sentiment.