The Pakistan Stock Exchange (PSX) experienced a decline on December 13, 2024, with the KSE-100 index dropping by 1.07%, closing at 112,963.64 points. The market had briefly surged to a high of 115,172.44 points earlier in the day before falling back to a low of 112,946.48 points. Overall, the market witnessed a drop of 1,216.86 points compared to the previous session.
Trading volume reached over 260 million shares, with a total value of approximately 23.34 billion rupees. The market’s previous close stood at 114,180.50 points.
Earlier in the week, the PSX saw a significant 3.04% rise, or 3,370.29 points, when the KSE-100 index closed at 114,180.51 points. This surge was driven by optimism over a potential policy easing by the State Bank of Pakistan (SBP), following a 100-basis point reduction in government bond yields. Positive economic indicators, such as rising global oil prices, a 15% increase in petroleum sales, and growth in sectors like automobiles and cement also contributed to the bullish sentiment.
Stocks in the fertilizer, exploration, and technology sectors led the rally, with companies like Fauji Fertiliser, Mari Petroleum, and Pakistan Petroleum seeing significant gains. However, stocks like Meezan Bank and Cherat Cement faced losses.
Despite the volatility, analysts remain optimistic, citing a 185% market growth over the past 18 months. Investors expect further market gains driven by improving economic conditions and rising investor confidence.
