KSE 100 Gains 0.62% Amid Positive Trading

Staff Report:Market activity remained positive during the trading session, with the index closing at 78,226, up by 0.62%. Major contributors to the index’s rise included HUBC, HBL, UBL, OGDC, and NATF, which collectively added 253 points.

On the other hand, BAHL, PSEL, MTL, FFC, and DAWH lost value, dragging the index down by 151 points. The traded volume and value for the day were 440 million shares and Rs20.38 billion, respectively. CNERGY was the volume leader, with 66.6 million shares traded.KSE 100 Index Closes at 77,941 Points Amid Mixed Trading Day

The KSE 100 Index closed slightly higher, up 0.25% on a week-on-week basis. Key events during the outgoing week included: the State Bank of Pakistan (SBP) announcing a 100 basis point reduction in the policy rate to 19.5% on Monday;

Fitch Ratings upgrading Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘CCC’; the Consumer Price Index (CPI) inflation for July 2024 clocking in at 11.1% year-on-year compared to 12.6% in June 2024; and Pakistan’s trade deficit for July 2024 coming in at $1.94 billion, down 19% month-on-month. The average daily traded volume and value during the week were 310 million shares and Rs14.9 billion, respectively.