KSE-100 Index Closes 467 Points Higher Despite Negative Start
On Friday, the KSE-100 Index of the Pakistan Stock Exchange (PSX) reversed its early losses to close 467 points higher, gaining 0.40% by the end of the trading session.
Market Overview
The session opened on a negative note, with the index dipping to an intraday low of -1,540 points. However, buying activity in the second half of the session led to a recovery, and the index finished at 117,587 points, up 467 points.
Read More: Pakistan Stock Exchange KSE-100 Index Rebounds, Showing Positive Momentum
Sector Performance
- Cement Sector: The negative start was largely driven by pressure in the cement sector, attributed to internal disputes among cement manufacturers. Reports indicated disagreements over market share expansion and changes in geographic sales strategies, which caused unease within the sector.
- Fertilizer Sector: The fertilizer sector provided the main positive boost to the index. EFERT, FFC, DAWH, and ENGRO collectively contributed 911 points to the index. The interest in the sector was fueled by expectations of a 53% MoM increase in dispatches for December 2024.
Trading Volume
- A total of 935,783,268 shares were traded, compared to 1,037,862,969 shares on the previous trading day.
- The value of shares traded stood at Rs 39.62 billion, down from Rs 46.57 billion in the last session.
Market Sentiment
- Company Performance: Out of the 455 companies that traded shares, 166 recorded gains, 246 sustained losses, and 43 remained unchanged.
Despite the early decline, the recovery in the second half of the session highlighted resilience in the market, particularly driven by the fertilizer sector’s strong performance.
