Markets
Pakistan stocks surge driven by strong valuations
Commercial banks, technology and cement sectors led the rally
Jan 14, 2025
Jan 14, 2025
Commercial banks, technology and cement sectors led the rally
Ghandhara closed at upper circuit, boosted by launch of new vehicle
Gold prices maintain a four-day rally, trading near a one-month high of $2,690 per ounce
The United States has imposed its most stringent sanctions yet on Russia’s energy sector, targeting key producers, exporters, and shipping networks.
The KSE-100 index closed on a bearish note, losing 4,340 points or 3.7 percent to settle at 113,247
KSE-100 declined by 3.7% during the week ended January 10th
KSE-100 index gained 0.54% 113,247 points
KSE-100 index shed 1.32% to close at 112,638 points
With a 24% rise last year, gold hit record highs of PKR 287,900 in Pakistan last year
KSE-100 index shed 1.64% to close at 114,148 points
No lenders in mainland China or India made the top 15 best-performers list while Pakistani banks dominated it
Market partially recovers after prime minister hints at potential electricity rate cuts
The company is owed substantial amounts by Sui Northern Gas Company, power generation companies, and PIA
Cement slumps on disagreements among manufacturers over pricing
Share prices of nine listed banks gained between 92% and 161%
Nukta's Shuja Qureshi dives into 2025 market predictions with Mohammed Sohail of Topline Securities and Shahid Ali Habib of Arif Habib Limited in the latest episode of Stock Watch
KSE-100 hits record high, driven by positive sector contributions and stable economic indicators
KSE-100 index gained 0.4% to close at 117,587 points
Pakistan's stock market ended on a positive note Thursday, achieving a modest gain and setting an all-time high at both intraday and close.
However, the latter half of the session saw a touch of volatility, driven by evolving political outlooks and cautious profit-taking by investors.
Stocks closed higher amid upbeat data showing a record fall in CPI inflation to 4.1% in December, coupled with Prime Minister's affirmation of macroeconomic stability.
Fertilizer, automobile assembler, and commercial banks sectors were the major contributors in today's session, cumulatively adding 693 points to the index.
KSE-100 index gained 0.10% or 111.57 points to close at 117,119.66 points.
Indian indices rose on Thursday, driven by gains in auto and IT stocks. Auto companies saw growth in their corporate earnings prospects after a rise in December sales.
IT firms experienced strong buying due to an optimistic forecast for higher fiscal year 2025 revenue growth, thanks to an improving outlook in the US.
BSE-100 index gained 1.77% or 445.59 points to close at 25,613.03 points.
DFM General Index shed -0.10% or 5.34 points to close at 5,153.33 points.
Oil prices rose on Thursday driven by optimistic market sentiment for stronger economic and oil demand growth.
Throughout the fourth quarter, oil prices were stable due to concerns about demand in China and other major economies, as well as expectations of oversupply.
In 2024, oil prices dropped for the second year in a row, decreasing by about 3% compared to the end of 2023.
Brent crude prices gained 1.5% to $75.76 per barrel.
Gold prices rise for the third consecutive session, driven by US monetary easing, geopolitical tensions, and record central bank purchases.
The Fed is expected to adopt a more cautious approach to rate cuts in 2025, signaling a hawkish shift due to uncertainties surrounding the incoming Trump administration's economic plans.
International gold prices increased 0.66% reaching $2,642.15 per ounce.
US dollar steadied against PKR in the inter-bank market. Pakistani currency settled at 278.64 with a loss of 9 paisas. In the open market USD was trading at PKR 279.
Many Pakistani companies broke their own records this year as their prices rose to new highs