KARACHI: The Pakistan Stock Exchange (PSX) saw its benchmark KSE-100 Index end the final trading day of 2024 nearly unchanged, though it posted an impressive 84% growth for the year, adding over 52,000 points.

This surge was driven by strong economic indicators throughout the year.On Tuesday, the KSE-100 Index started the session positively, reaching an intra-day high of 116,700. However, as the day progressed, a wave of selling pressure pushed the index into negative territory, causing it to close at 115,126.90, down by 132.09 points or 0.11%. On the previous trading day, the index had gained more than 3,900 points, finishing above the 115,000 mark. Despite the minor decline on the last day, the KSE-100 Index concluded 2024 with a remarkable 84% annual gain, adding 52,676 points during the year, as reported by brokerage house Arif Habib Limited (AHL). This marked the highest return since 2002, when the index gained 112%. Key factors contributing to this impressive performance included economic stability, political progress, increased liquidity, and continued support from the International Monetary Fund (IMF) program.

The primary sectors driving the market's growth in 2024 were banks, which contributed 13,847 points, followed by fertilizers with 11,169 points, and the exploration and production (E&P) sector, adding 10,012 points. Together, these sectors accounted for 66% of the total points added to the index. On the company level, FFC led the charge, contributing 6,086 points to the index, followed by MARI with 3,977 points, UBL adding 3,957 points, and OGDC contributing 2,613 points.Topline Securities attributed the market's strong performance to improving macroeconomic conditions under the new IMF program, including falling inflation, decreasing yields on fixed income, a 900-basis-point rate cut by the central bank, improved external accounts, and a stable currency. Political stability also played a crucial role in boosting investor confidence. In a major development on Tuesday, Prime Minister Shehbaz Sharif unveiled the 'Uraan Pakistan' plan, a five-year national economic program designed to guide the country toward sustainable growth from 2024 to 2029.Globally, Asian stocks saw a slight dip on the last day of 2024, with investors adjusting their positions ahead of a potential U.S. rate cut and bracing for the incoming U.S. administration.  Meanwhile, the Pakistani rupee ended the year with a slight depreciation of 0.03% against the U.S. dollar, settling at 278.55. The total volume of shares traded on Tuesday increased to 1.24 billion, with a value of Rs44.22 billion. Cnergyico PK was the volume leader, followed by Pace (Pak) Ltd and WorldCall Telecom. Out of 465 companies traded, 235 saw an increase in value, 188 experienced a decline, and 42 remained unchanged.