KSE-100 ends 3-day losing streak, gains 1,700+ points

Business Jan, 31 2025
KSE-100 ends 3-day losing streak, gains 1,700+ points
  • 75
  • 0

KARACHI: Buying returned to the Pakistan Stock Exchange (PSX) after three consecutive negative sessions, as the KSE-100 Index gained over 1,700 points.

The index closed at 113,206.40, up by 1,719.04 points (1.54%), driven by strong performances from stocks like MARI, BAHL, LUCK, PSO, and HUBC, which collectively added 923 points. The second half of the trading day saw bullish momentum, pushing the index to an intra-day high of 113,400.57. The positive market sentiment followed the announcement of Bank Alfalah's 2024 profit of Rs39.9 billion, a 10% increase over the previous year. Investors are also awaiting the International Monetary Fund (IMF) review due at the end of February, which is expected to reinforce macroeconomic stability. Despite the rally, the PSX had experienced a sharp decline in the previous three sessions, losing nearly 3,400 points. Internationally, Asian markets were mixed amid thin trading, and US stocks showed mixed earnings reports.

The US dollar remained stable as the Federal Reserve indicated a pause in interest rate cuts. Meanwhile, the Pakistani rupee marginally depreciated by 0.04% against the US dollar, closing at 278.97. Trading volume on the all-share index increased to 483.94 million, but the value of shares declined to Rs26.10 billion.  Sui South Gas led in vol ume, followed by Waves Home App and Bank Makramah. Of the 441 companies traded, 272 saw gains, while 118 declined.

NC Big Stories

Death of Pakistanis in boat tragedies

In recent yeas, varoius groups of human smugglers emerged who started sending innocent people abroad through illegal and inhumane methods, this process is still going on.  In recent years, hundreds of Pakistanis who traveled through illegal rou...

Azerbaijan-Pakistan chamber of commerce inaugurated to boost bilateral trade

ISLAMABAD: Pakistan achieved a significant milestone in fostering bilateral trade relations with Azerbaijan as the Azerbaijan-Pakistan Chamber of Commerce and Industry was officially inaugurated in Islamabad. The ceremony was graced by Federal Minist...

IMF applauds Pakistan's economic efforts ahead of review: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb shared on Wednesday that the government has received "very positive" feedback from the International Monetary Fund (IMF) regarding Pakistan's macroeconomic stability and its reform efforts. Speaking at...

PM Shehbaz, IMF's Georgieva hold talks on ongoing program

DUBAI: In a significant development on the sidelines of the World Government Summit (WGS) 2025, Prime Minister Shehbaz Sharif engaged in a crucial meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The talk...

More like this
Related

Azerbaijan-Pakistan chamber of commerce inaugurated to boost bilateral trade

ISLAMABAD: Pakistan achieved a significant milestone in fostering bilateral trade relations with Azerbaijan as the Azerbaijan-Pakistan Chamber of Commerce and Industry was officially inaugurated in Islamabad. The ceremony was graced by Federal Minist...

IMF applauds Pakistan's economic efforts ahead of review: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb shared on Wednesday that the government has received "very positive" feedback from the International Monetary Fund (IMF) regarding Pakistan's macroeconomic stability and its reform efforts. Speaking at...

PM Shehbaz, IMF's Georgieva hold talks on ongoing program

DUBAI: In a significant development on the sidelines of the World Government Summit (WGS) 2025, Prime Minister Shehbaz Sharif engaged in a crucial meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The talk...

Rana Tanveer chairs PSMA meeting on sugar distribution, pricing

ISLAMABAD: Federal Minister for Industries and Production, Rana Tanveer Hussain, chaired a significant meeting of the Pakistan Sugar Manufacturers Association (PSMA) on Tuesday, focusing on crucial decisions regarding sugar pricing and distribution a...
Need Help? Chat with us