Karachi, January 3, 2025: The Pakistan Stock Exchange (PSX) witnessed a strong rebound on Friday, as late-session buying drove the benchmark KSE-100 Index 467 points higher, closing at 117,586.98.
After opening on a negative note, the index hit an intra-day low of 115,580.01 amid selling pressure in the first half of the session. However, renewed buying interest in the latter half helped the market recover losses, ultimately ending the day with a gain of 467.33 points, or 0.40%.
Topline Securities, in its post-market analysis, highlighted pressure in the cement sector due to reports of internal disputes among manufacturers over market share and pricing strategies. Despite this, investor confidence returned later in the session, supported by ample liquidity, which spurred a buying spree.
The fertiliser sector provided a major boost, with EFERT, FFC, DAWH, and ENGRO collectively contributing 911 points to the index. “The surge in fertiliser stocks was driven by expectations of a 53% month-on-month increase in dispatch numbers for December 2024,” Topline noted.
Intermarket Securities also pointed out that equities, particularly cyclical stocks, offer attractive investment opportunities as Pakistan progresses from economic stabilization to growth.
The recovery comes after Thursday’s volatile session, during which the index swung between gains and losses before closing nearly flat at 117,119.65, up by 111.57 points.
Analysts expect continued investor interest in cyclical and value stocks as market sentiment improves, backed by favorable economic indicators.
