KARACHI: Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on February 21, 2025 on the back of local investors interest coupled with institutional support.
The benchmark KSE-100 index increased by 715.63 points on week-on-week basis and closed at 112,800.93 points.
Trading activities also improved as average daily volumes on ready counter increased by 13.0 percent to 593.35 million shares during this week as compared to previous week’s average of 525.10 million shares however average daily traded value on the ready counter declined by 11.5 percent to Rs 24.15 billion during this week against previous week’s Rs 27.28 billion.
BRIndex100 gained 45.31 points during this week to close at 11,864.64 points with average daily turnover of 540.082 million shares.
BRIndex30 added 321.02 points on week-on-week basis to close at 35,320.75 points with average daily trading volumes of 388.508 million shares.
The foreign investors however remained on the selling side and withdrew $5.134 million from the local equity market during this week. Total market capitalization increased by Rs 107 billion during this week to Rs 13.958 trillion.
An analyst at AKD Securities said that the market witnessed a modestly positive week, with the benchmark KSE-100 index gaining 716points or 0.64 percent WoW, closing at 112,801points on Friday.
The market activity was largely driven by ongoing corporate results, where better-than-anticipated earnings from cement companies and a stock split announced by LUCK led the cement sector to contribute 549points to the index. Additionally, the authorities’ stance against imposing new taxes ahead of the upcoming IMF review boosted investor confidence, with expectations of smooth review process, expected next month.
Sector wise, Glass Ceramics, Jute, and Textile Spinning were amongst the top performers, up 7.0 percent/6.1 percent/5.2 percent WoW. On the other hand, Transport, Pharmaceuticals, and Closed-End Mutual Funds reported a decline of 3.9 percent/3.7 percent/2.2 percent WoW, respectively.
Flow wise, major net selling was recorded by Mutual Funds and Foreigners with a net sell of $8.6 million and $5.1 million, respectively. On the other hand, Insurance Companies, Individuals, and Companies absorbed most of the selling with a net buy of $5.8 million, $4.4million, and $3.8 million, respectively.
Company-wise, top performers during the week were, BOP (up 15.0 percent), FCCL (up 14.9 percent), KTML (up 14.0 percent), TGL (up 12.6 percent), and DGKC (up 10.3 percent), while top laggards were, SAZEW (down 4.7 percent), MEHT (down 4.8 percent), SEARL (down 4.9 percent), TRG (down 6.0 percent), and ABOT (down 15.4 percent).
An analyst at JS Global Capital said that the KSE-100 index remained positive this week closing at the level of 112,801 points, gaining 0.6 percent WoW.
During the week, current account recorded a $420 million deficit for January 2025 after three consecutive months of surplus. This was primarily driven by a 17 percent YoY increase in imports, offsetting a 10 percent YoY rise in exports. Consequently, the cumulative current account surplus declined to $682million in the first seven months of FY25.
The IMF mission is expected to arrive in Pakistan in early March for review of the ongoing EFF program. Additionally, Pakistan is in discussions with IMF for $1.0 billion under climate financing, with further progress anticipated next week.
Copyright Business Recorder, 2025
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