RECORDER REPORT
KARACHI: After three consecutive negative sessions, the Pakistan Stock Exchange (PSX) on Thursday rebounded, closing higher as investor sentiment improved. Optimism over a potential resolution to the circular debt crisis, coupled with Moody’s recent upgrade of Pakistani banks’ ratings, fueled market confidence, driving a positive close.
The benchmark KSE-100 Index gained 1,009.70 points or 0.89percent to settle at 115,094.24points on Thursday up from 114,084.54 points. The daily volumes at the ready counter rose to 383 million shares, higher than the 300 million shares traded in the previous session. Similarly, the total traded value on the ready counter also surged to Rs 25.4billion, compared to Rs 20.262 billion in the last session.
On Thursday, BRIndex100 opened at 12,102.44 points and closed at 12,234.12 points up by 131.68 points or 1.09 percent with a total volume of 317.877 million shares.
BRIndex30 also gained 425.08 points or 1.15 percent to closed at 36,949.72 points with a total volume of 208.682 million shares.
The market capitalization increased by Rs 80 billion to reach Rs 14.129 trillion. Out of444 active scrips, 232 closed in positive and 156 in negative while the value of 56 stocks remained unchanged.
B.O.Punjab was the volume leader with 48.8 million shares and closedat Rs 13.45 followed byBarkat Frisian Agrothat closed at Rs 28.40 with 24.6million shares. Fauji Cement ranked third with share trading of 19.6million shares and it closed at Rs 45.29.
Hoechst Pakistan Limited and PIA Holding Company LimitedBwere the top gainers increasing by Rs 85.30 and Rs 64.22 respectively toclose at Rs 3,199.88 and Rs928.47, while Unilever Pakistan Foods Limited and Service Industries Limited were the top losersdeclining by Rs 122.40 and Rs 36.15 respectively to close at Rs 23,217.20 andRs 1,383.77.
Ahsan Mehanti Arif Habib Corp saidstocks showed recovery after Moodys upgraded from stable to positive outlook on Pakistan Bank’s owing to improving financial performance and macroeconomic conditions.Speculations over resolve of power sector circular debt ahead of release of IMF tranche next month and surging global crude oil prices played catalyst role in bullish close at PSX, he added.
The BR Automobile Assembler Index closed at 21,284.89 points, gaining 50.6 points or 0.24 percent, with a total turnover of 3.006 million shares.The BR Cement Index surged by 353.44 points or 2.75 percent to close at 13,227.58 points, with a total turnover of 61.523 million shares.
The BR Commercial Banks Index settled at 30,729.01 points, up 71.36 points or 0.23 percent, with a total turnover of 71.777 million shares.
The BR Power Generation & Distribution Index climbed 302.87 points or 1.6 percent, closing at 19,290.51 points, with a total turnover of 16.857 million shares.
The BR Oil & Gas Index recorded a gain of 128.91 points or 1.08 percent, ending at 12,038.49 points, with a total turnover of 48.353 million shares.The BR Technology & Communication Index advanced 44.11 points or 0.9 percent, closing at 4,920.33 points, with a total turnover of 29.549 million shares.
Analysts said that this rally was driven byoptimism over a potential resolutionto circular debt in the energy sectorand an upgrade of Pakistani banksby Moody’s Ratings. Investorsremained upbeat ahead of the IMFreview, hoping for the next loantranche approval.
The positive momentum was also largely driven by growing investor confidence that the ongoing review with the International Monetary Fund (IMF) will conclude smoothly. This sentiment acted as a key catalyst, encouraging aggressive buying across major sectors
The rally was predominantly led by FFC, PSO, LUCK, ENGROH, and MARI, which collectively contributed 506 points to the index.
