After observing selling pressure in the first half of the trading session on Friday, the Pakistan Stock Exchange (PSX) saw a rebound in buying activity, with the benchmark KSE-100 closing the session higher by 467 points.
The benchmark index kicked off trading on a negative note, dragging the index to an intra-day low of 115,580.01.
However, buying interest in the second half of the trading session allowed the KSE-100 Index to recover all losses and close in the green.
At close, the benchmark index settled at 117,586.98, up by 467.33 points or 0.40%.
“Pressure in cement sector was on noise that there is dispute among cement manufacturers for increase in market share and change in geographic sales to fetch higher retention price where some players are reportedly encroaching on the volumes of others, creating unease within the sector,” brokerage house Topline Securities said in its post-market report.
“However, in second half of trading session investors came in with access available liquidity to buy the dip,” it added.
Top positive contribution to the index came from the fertiliser sector as EFERT, FFC, DAWH, and ENGRO cumulatively contributed 911 points to the index.
“This interest in fertiliser sector was on account of expectation of increase in dispatch number by 53% month-on-month for the month of December 2024,” Topline said.
According to a note from the Intermarket Securities, equities, particularly cyclicals, present attractive opportunities for investors as the country gradually transitions from stabilization to growth.
On Thursday, the PSX witnessed a volatile session, as the benchmark KSE-100 Index swung in both directions before closing nearly flat at 117,119.65, an increase of 111.57 points.
Internationally, Asian stocks rose on Friday, aiming to shrug off a lacklustre start to 2025. Meanwhile, the dollar was perched at a two-year high against a basket of currencies as investors fretted about U.S. rates staying higher for longer.
MSCI’s broadest index of Asia-Pacific shares outside Japan, was 0.33% higher but on course for a nearly 1% drop for the week. The index rose nearly 8% in 2024. Japan markets are closed for the week.
China stocks were steady on Friday after plunging on Thursday highlighting growing worries about China’s economy and a possible looming trade war when Donald Trump begins his U.S. presidency this month.
China’s blue-chip CSI 300 Index, was 0.16 higher in early trading after logging its weakest New Year start since 2016 on Thursday. Hong Kong’s Hang Seng Index, rose 0.19%.
On Wall Street, US stocks closed broadly lower on Thursday after initial gains failed to hold. Shares of Tesla, sank 6.1% after reporting its first annual drop in deliveries,
The dim mood comes in the wake of a stuttering end to 2024, denting a year-long rally fuelled by growth expectations surrounding artificial intelligence, anticipated rate cuts from the Federal Reserve, and more recently, the likelihood of deregulation policies from the incoming Trump administration.
Meanwhile, the Pakistani rupee registered a marginal improvement against the US dollar, appreciating 0.03% in the inter-bank market on Friday. At close, the currency settled at 278.56 for a gain of Re0.08 against the greenback.
Volume on the all-share index decreased to 935.78 million from 1,037.86 million on Thursday.
The value of shares declined to Rs39.62 billion from Rs46.57 billion in the previous session.
WorldCall Telecom was the volume leader with 73.23 million shares, followed by Cnergyico PK with 57.33 million shares, and Fauji Cement with 54.38 million shares.
Shares of 456 companies were traded on Friday, of which 167 registered an increase, 246 recorded a fall, while 43 remained unchanged.
After observing selling pressure in the first half of the trading session on Friday, the Pakistan Stock Exchange (PSX) saw a rebound in buying activity, with the benchmark KSE-100 closing the session higher by 467 points.
The benchmark index kicked off trading on a negative note, dragging the index to an intra-day low of 115,580.01.
However, buying interest in the second half of the trading session allowed the KSE-100 Index to recover all losses and close in the green.
At close, the benchmark index settled at 117,586.98, up by 467.33 points or 0.40%.
“Pressure in cement sector was on noise that there is dispute among cement manufacturers for increase in market share and change in geographic sales to fetch higher retention price where some players are reportedly encroaching on the volumes of others, creating unease within the sector,” brokerage house Topline Securities said in its post-market report.
“However, in second half of trading session investors came in with access available liquidity to buy the dip,” it added.
Top positive contribution to the index came from the fertiliser sector as EFERT, FFC, DAWH, and ENGRO cumulatively contributed 911 points to the index.
“This interest in fertiliser sector was on account of expectation of increase in dispatch number by 53% month-on-month for the month of December 2024,” Topline said.
According to a note from the Intermarket Securities, equities, particularly cyclicals, present attractive opportunities for investors as the country gradually transitions from stabilization to growth.
On Thursday, the PSX witnessed a volatile session, as the benchmark KSE-100 Index swung in both directions before closing nearly flat at 117,119.65, an increase of 111.57 points.
Internationally, Asian stocks rose on Friday, aiming to shrug off a lacklustre start to 2025. Meanwhile, the dollar was perched at a two-year high against a basket of currencies as investors fretted about U.S. rates staying higher for longer.
MSCI’s broadest index of Asia-Pacific shares outside Japan, was 0.33% higher but on course for a nearly 1% drop for the week. The index rose nearly 8% in 2024. Japan markets are closed for the week.
China stocks were steady on Friday after plunging on Thursday highlighting growing worries about China’s economy and a possible looming trade war when Donald Trump begins his U.S. presidency this month.
China’s blue-chip CSI 300 Index, was 0.16 higher in early trading after logging its weakest New Year start since 2016 on Thursday. Hong Kong’s Hang Seng Index, rose 0.19%.
On Wall Street, US stocks closed broadly lower on Thursday after initial gains failed to hold. Shares of Tesla, sank 6.1% after reporting its first annual drop in deliveries,
The dim mood comes in the wake of a stuttering end to 2024, denting a year-long rally fuelled by growth expectations surrounding artificial intelligence, anticipated rate cuts from the Federal Reserve, and more recently, the likelihood of deregulation policies from the incoming Trump administration.
Meanwhile, the Pakistani rupee registered a marginal improvement against the US dollar, appreciating 0.03% in the inter-bank market on Friday. At close, the currency settled at 278.56 for a gain of Re0.08 against the greenback.
Volume on the all-share index decreased to 935.78 million from 1,037.86 million on Thursday.
The value of shares declined to Rs39.62 billion from Rs46.57 billion in the previous session.
WorldCall Telecom was the volume leader with 73.23 million shares, followed by Cnergyico PK with 57.33 million shares, and Fauji Cement with 54.38 million shares.
Shares of 456 companies were traded on Friday, of which 167 registered an increase, 246 recorded a fall, while 43 remained unchanged.
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