{"id":4603,"date":"2024-05-02T16:52:54","date_gmt":"2024-05-02T11:52:54","guid":{"rendered":"https:\/\/ksestocks.com\/blog\/?p=4603"},"modified":"2024-05-02T17:04:25","modified_gmt":"2024-05-02T12:04:25","slug":"how-did-the-market-perform-in-april-2024","status":"publish","type":"post","link":"https:\/\/ksestocks.com\/blog\/how-did-the-market-perform-in-april-2024\/","title":{"rendered":"How did the market perform in April 2024?"},"content":{"rendered":"\n

In April 2024, the Karachi Stock Exchange 100 (KSE100) Index saw significant gains, climbing by 6.1%<\/strong> Month-on-Month (MoM), equivalent to 4,097 points. This increase surpassed the 3.8%<\/strong> MoM growth observed in March 2024. The market experienced positive momentum driven by various developments and market sentiments.<\/p>\n\n\n\n

Key Highlights<\/h2>\n\n\n\n
    \n
  • Market Performance<\/strong>: The local bourse surged during April’24, fueled by receding inflation expectations and positive market reactions to notable events. These included the visit of a Saudi delegation, finalization of a US$3.0bn<\/strong> IMF Stand-by Arrangement, and prospects of a larger Extended Fund Facility (EFF).<\/li>\n\n\n\n
  • Monetary Policy Committee (MPC) Decision<\/strong>: There was anticipation and mixed expectations surrounding the MPC’s decision on the policy rate. The central bank ultimately opted to maintain the status quo, signaling a cautious approach amid ongoing geopolitical events and discussions related to the new EFF program.<\/li>\n\n\n\n
  • Current Account Surplus<\/strong>: Pakistan recorded its largest current account surplus in nine years in March 2024, amounting to US$619 million<\/strong>. This contributed to a significant reduction in the nine-month deficit to US$508 million<\/strong>, down 88%<\/strong> year-on-year (YoY).<\/li>\n\n\n\n
  • Sector Performance<\/strong>: The Fertilizer sector emerged as the best performer in April’24, posting a return of approximately 12.23%<\/strong> MoM. This was driven by expectations of uninterrupted gas supply to Urea producers and improving sector fundamentals.<\/li>\n<\/ul>\n\n\n\n

    Sectoral Performance<\/h2>\n\n\n\n

    The Fertilizer sector led the market gains, followed by Synthetic & Rayon, Pharmaceuticals, Sugar & Allied, and ETFs. Conversely, the Tobacco, Transport, and Miscellaneous sectors experienced declines during the period.<\/p>\n\n\n\n

    Top performers<\/h3>\n\n\n\n
      \n
    • Top Performers<\/strong>:<\/li>\n\n\n\n
    • Fertilizers: ~12.23%<\/strong> MoM<\/li>\n\n\n\n
    • Synthetic & Rayon: ~12.19%<\/strong> MoM<\/li>\n\n\n\n
    • Pharmaceuticals: ~11.9%<\/strong> MoM<\/li>\n\n\n\n
    • Sugar & Allied: ~11.7%<\/strong> MoM<\/li>\n\n\n\n
    • ETFs: ~10.4%<\/strong> MoM<\/li>\n<\/ul>\n\n\n\n

      Top Decliners<\/h3>\n\n\n\n
        \n
      • Decliners<\/strong>:<\/li>\n\n\n\n
      • Tobacco: -17.2%<\/strong> MoM<\/li>\n\n\n\n
      • Transport: -11.3%<\/strong> MoM<\/li>\n\n\n\n
      • Miscellaneous: -10.9%<\/strong> MoM<\/li>\n<\/ul>\n\n\n\n

        Investment Perspective<\/h2>\n\n\n\n

        The State Bank of Pakistan (SBP) is maintaining real rates at around 5%<\/strong> as of April’24 to anchor inflation expectations. However, the trajectory of the anticipated easing cycle will depend on stabilizing the external account, primarily through IMF oversight.<\/p>\n\n\n\n

        The market’s future direction is anticipated to be influenced by:<\/p>\n\n\n\n

          \n
        • Revenue measures in the upcoming Federal Budget.<\/li>\n\n\n\n
        • Potential revisions in electricity and gas tariffs during the summer months, which could impact inflation figures.<\/li>\n<\/ul>\n\n\n\n

          Source: AKD Research<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

          Karachi Stock Exchange 100 (KSE100) Index saw significant gains, climbing by 6.1% Month-on-Month.<\/p>\n","protected":false},"author":8,"featured_media":4623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[232],"class_list":["post-4603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-psx-blog","tag-kse100"],"featured_image_src":{"landsacpe":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/April-2024-1140x445.jpg",1140,445,true],"list":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/April-2024-463x348.jpg",463,348,true],"medium":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/April-2024-300x188.jpg",300,188,true],"full":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/April-2024.jpg",1920,1200,false]},"_links":{"self":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/4603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/comments?post=4603"}],"version-history":[{"count":0,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/4603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media\/4623"}],"wp:attachment":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media?parent=4603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/categories?post=4603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/tags?post=4603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}