After a slow start on Friday, the KSE-100 Index of the Pakistan Stock Exchange (PSX) ended 467 points higher as buying activity gained momentum in the second half of the trading session. The KSE-100 Index fell to an intraday low of -1,540 points before closing at 117,587 points, up by 467 points or 0.40%.
Topline Securities noted that the initial decline was driven by pressure in the cement sector, where reports of disputes among manufacturers over market share and sales strategies created unease, with some companies allegedly encroaching on others’ volumes.
The fertilizer sector made the biggest positive contribution to the KSE-100 Index, with EFERT, FFC, DAWH, and ENGRO collectively adding 911 points. This surge was driven by expectations of a 53% month-on-month increase in dispatches for December 2024, according to the brokerage house.
A total of 935,783,268 shares were traded, compared to 1,037,862,969 on the previous day, with the total share value at Rs. 39.62 billion, down from Rs. 46.57 billion.
Out of 455 companies trading, 166 saw their share prices rise, 246 experienced losses, and 43 remained unchanged.