The benchmark KSE-100 Index closed Monday’s session at 115,844.81, gaining 572.73 points or 0.50%, as investor confidence remained strong amid political stability and expectations of a potential rate cut in the upcoming monetary policy meeting on January 27, 2025.
The index traded within a range, reaching an intraday high of 116,276.42 and a low of 115,668.08. Total trading volume for the KSE-100 rose to 268.34 million shares, while the broader all-share index recorded a volume of 675.05 million shares, up from 549.58 million in the previous session.
Top contributors to the index’s gains included ENGROH, FFC, MEBL, SEARL, and MLCF, collectively adding 449 points. However, losses in MARI, PPL, SYS, PSO, and BAFL trimmed 182 points.
Sector-wise, the index was supported by investment banks, fertilizer, cement, commercial banks, and pharmaceuticals, while oil and gas exploration, technology, and engineering sectors lagged.
Market analysts cited easing political uncertainties and optimism surrounding a rate cut as key drivers of the rally. Anticipation of broader policy developments in global markets also influenced sentiment, while the rupee marginally appreciated against the US dollar, closing at 278.65 in the interbank market.
Lotte Chemical led trading volumes with 59.47 million shares, followed by Bank Makramah with 57.80 million shares and WorldCall Telecom with 56.89 million shares. Of the 454 companies traded, 241 closed higher, 157 lower, and 56 remained unchanged.
