On Tuesday, 1st October 2024, the Pakistan Stock Exchange (PSX) saw a strong performance, with the KSE-100 Index opening up 85 points. Throughout the day, the index gained an impressive 866 points intraday without any losses and eventually closed at 81,805 points, marking a gain of 690 points. This follows a previous day’s loss of 178 points. Over the last five trading sessions, the KSE-100 Index has accumulated a total gain of 321 points, signaling a positive trend in the market.
Today's major gainers on the Pakistan Stock Exchange (PSX) included Kohinoor Power (KOHP), which rose by 12.8% to close at 7.7, followed by Agritech Limited (AGL) and Lalpir Power (LPL), both of which gained 10%, closing at 37.0 and 19.9 respectively. Waves Home Appliances (WAVESAPP) and Power Cement (POWER) also saw notable gains, increasing by 8.8% each, with closing prices of 7.9 and 5.5.
Over the last five trading sessions, Crescent Steel (CSAP) led the major gainers with a remarkable 23.2% increase, closing at 87.7. Gul Ahmed (GATM) and Agritech Limited (AGL) followed with gains of 14.1% and 14.0%, closing at 20.53 and 37.03, respectively. P.N.S.C (PNSC) surged by 11.6% to 365.82, while Fauji Cement (FCCL) gained 10.7%, closing at 26.62.
Today's major losers on the Pakistan Stock Exchange (PSX) were led by Engro Polymer (EPCL) and Agha Steel Industries (AGHA), both dropping by 4.3% to close at 32.0 and 10.8, respectively. Saif Textile (SAIF) followed with a 4.1% decline, closing at 11.0, while Bank Al-Falah (BAFL) and Crescent Textile (CRTM) saw decreases of 3.7% and 3.5%, closing at 58.4 and 11.6, respectively.
Over the last five trading sessions, Kohinoor Energy-XD (KOHE) experienced a significant drop of 26.6%, closing at 28.3. Pak Datacom (PAKD) and Agha Steel Industries (AGHA) also faced notable losses, down 16.4% and 15.8%, closing at 66.02 and 10.79, respectively. TRG Pakistan (TRG) fell by 14.7%, closing at 48.29, while Crescent Textile (CRTM) dropped 12.9%, closing at 11.58.
On October 1, 2024, foreign corporates made a significant net selling of USD 6.19 million on the Pakistan Stock Exchange (PSX). Over the last 30 trading sessions, foreign corporates have cumulatively sold USD 58.04 million, reflecting consistent selling pressure from this segment. See this post on foreign selling.
In contrast, mutual funds made an impressive net buying of USD 9.08 million today, marking a substantial inflow of capital. Over the last 30 trading sessions, mutual funds have accumulated a total net buying of USD 51.71 million, highlighting their continued bullish stance.
Meanwhile, insurance companies recorded a massive net selling of USD 3.31 million today, contributing to their cumulative net selling of USD 23.02 million over the past 30 trading sessions. This indicates a persistent sell-off by insurance firms in recent weeks.
