Karachi, October 22, 2024: The KSE-100 index witnessed a robust upward trend today, reaching an intraday high of 788 points before closing at 86,466, marking a gain of 409 points or 0.48%. The positive movement was largely driven by institutional buying and stronger-than-expected corporate earnings.
SYS, from the technology sector, surged by 7.41% following the release of its 3Q2024 results, reporting an EPS of Rs7.51, surpassing market expectations.
K-Electric (KEL) led the market in trading volume, with 224 million shares exchanged, reflecting a substantial 13.16% increase. This boost followed significant news that NEPRA had approved the generation tariff for all KEL power plants for the post-June 2023 period.
Key contributors to the index’s rise were SYS, Lucky Cement (LUCK), Hub Power (HUBC), Attock Refinery (ATRL), and KEL, collectively adding 380 points.
Overall trading activity was vigorous, with 721 million shares traded, amounting to a total of Rs 25 billion.
