Pakistan Stock Exchange Witnesses Positive Movement in Major IndicesAdamjee Insurance Witnesses Variation in Market Prices

Karachi, The Pakistan Stock Exchange (PSE) saw a positive trend on February 29, 2024, with major indices showing significant gains. The KSE-30 index went up by 381.15 points, closing at 21,889.09, while the KSE-100 index increased by 875.07 points, ending the day at 64,578.52. Similarly, the KSE All Share Index rose by 387.81 points to close at 42,840.89. The KMI-30 and KMI All Share indices also experienced upward movements, with respective increases of 1,972.97 and 300.89 points.

In the ready market, notable turnover was observed in companies such as K-Electric Ltd., Hascol Petroleum, and Kohinoor Spinning, among others. K-Electric Ltd. saw the highest turnover with 54,958,235 shares, closing at PKR 4.90, up from the previous rate of PKR 4.79. Other active stocks included Unity Foods Ltd and Telecard Limited, showing significant trading activity.

The trading session also saw notable movements in stock rates, with Pakistan Services Limited recording a significant increase, closing at PKR 792.18, up by PKR 52.18. Conversely, Bata Pakistan Limited, Millat Tractors Limited, and Reliance Cotton Spinning Mills Limited faced declines in their stock rates.

The overall market sentiment was positive, with increases in both the ready and future markets. The day's trading ended with higher indices and increased market capitalization, indicating a bullish trend in the market.

Karachi, In the latest trading session on the Pakistan Stock Exchange dated February 29, 2024, Adamjee Insurance Co. Ltd. (AICL) experienced fluctuations in its stock prices. The insurance company's stock opened at 35.6 PKR and closed higher at 36.3 PKR after reaching a low of 35.5 PKR and a high of 36.14 PKR throughout the day. A total of 53,000 shares were traded, with the closing price settling at 35.69 PKR.

In terms of future contracts, Adamjee Insurance showed no activity for its April (AICL-APR), March (AICL-MAR), and May (AICL-MAY) contracts, as all opened and closed at zero with no shares traded. However, the expected future prices varied, with the April contract anticipated at 37.18 PKR after peaking at 37.63 PKR, the March contract expected at 36.46 PKR after reaching a high of 36.9 PKR, and the May contract projected at 38.09 PKR following a high of 38.54 PKR.

These figures reflect the ongoing investor interest in Adamjee Insurance, despite the lack of activity in the futures market, indicating a cautious yet optimistic outlook among traders regarding the insurance sector's performance.