Islamabad, Nov 19: The KSE-100 index demonstrated exceptional bullish momentum, soaring to an all-time high of 96,036. The market opened on a positive note, buoyed by expectations of the Consumer Price Index (CPI) falling within the 4.5% to 5.0% YoY range.
Notably, this marks the first time in 78 months that inflation is anticipated to drop below 5%. The index eventually settled at 95,856, posting an impressive gain of 860 points or 0.91%.
SYS (8.59%) from the technology sector drew considerable investor interest after the announcement that OneZapp, a subsidiary of Systems Ltd., had officially secured approval from the State Bank of Pakistan to commence commercial operations as an Electronic Money Institute.
The pharmaceutical sector continued its upward trajectory, with AGP, BFBIO, FEROZ, and ABOT all closing higher than their previous sessions, extending their recent rally.
Key contributors to the index’s upward movement included SYS, UBL, ABOT, PSO, and EFERT, collectively adding 484 points to the index.
Trading activity remained robust, with 830 million shares traded, generating a turnover of Rs. 30 billion. HASCOL led the volume charts, with 60 million shares exchanging hands.
