RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) closed higher on Thursday, supported by gains in regional capital markets after US President Donald Trump announced a 90-day pause on tariffs.

The benchmark KSE-100 Index increased by 2,036.05 points, or 1.78 percent, closing at 116,189.21 points on Thursday as against 114,153.16 points on Wednesday. The market remained in positive territory throughout the session, although some profit-taking emerged at higher levels. The rally was primarily driven by oil & gas, banking, and power sectors. The index touched an intraday high level of 117,484.17 points and low level of 116,130.90 points.

The daily volume at the ready counter rose to 638 million shares up from 448.7 million shares in the previous session. Similarly, the total traded value on the ready counter sharply increased to Rs 37 billion compared to Rs 33.67 billion in the last session.

On Thursday, BRIndex100 gained 255 points or 2.08 percent to settle at 12,491.68 points with a share trading volume of 560.385 million.  BRIndex30 also surged by 1,344.69 points or 3.7 percent to close at 37,693.97 points with a total volume of 421 million shares.

The market capitalization mounted up by Rs 250 billion to Rs 14.235 trillion. Out of 451 active scrips, 347 closed in positive and 63 in negative while the value of 41 stocks remained unchanged.

Ahsan Mehanti of Arif Habib Corp said Stocks staged sharp recovery led by scrips across the board after US tariff relief and Trump tariff policy u- turn. Bull-run in global equities, surge in global crude oil prices and Govt hopes over success in Pak-US tariff talks played a catalyst role in bullish close in the earning season at PSX, he added.

Cnergyico PK was the volume leader with 86.5 million shares and closed at Rs 8.52 followed by K-Electric Ltd. that closed at Rs 4.54 with 58 million shares. Sui South Gas ranked third with share trading of 44.7 million shares and it closed at 39.13.

Rafhan Maize Products Company Limited and Hoechst Pakistan Limited were the top gainers increasing by Rs 158.17 and Rs 144.31 respectively to close at Rs 8,999.00 and Rs 3,200.00, while Nestle Pakistan Limited and Ismail Industries Limited were the top losers declining by Rs 22.87 and Rs 16.83 respectively to close at Rs 7,183.48 and Rs 1,756.91.

Analysts said that upward trajectory was fueled by a strong rebound in US and other international equity markets, with the index rallying as much as 3,331 points during intraday trading.

The gains were predominantly driven by standout performances from key index movers including HUBC, OGDC, LUCK, UBL, and PPL. Collectively, these stocks contributed 633 points to the index.

Trading activity remained robust, with a total of 638 million shares changing hands and a market turnover of Rs 37 billion. CNERGY emerged as the volume leader, with 86 million shares traded.

BR Automobile Assembler Index closed at 21,745.12 points, registering a net gain of 540.34 points or 2.55 percent, with a total turnover of 7.338 million shares. BR Cement Index ended the session at 13,767.83 points, up by 342.78 points or 2.55 percent, and reported a total turnover of 64.430 million shares.

BR Commercial Banks Index settled at 32,050.06 points, posting a modest increase of 81.65 points or 0.26 percent, with a total turnover of 41 million shares. BR Power Generation & Distribution Index closed at 19,618.71 points, with a strong gain of 674.03 points or 3.56 percent, and a total turnover of 85.623 million shares.

BR Oil & Gas Index closed at 12,069.98 points, rising by 327.22 points or 2.79 percent, with a total turnover of 83.498 million shares. BR Technology & Communication Index settled at 4,824.40 points, marking the highest percentage gain of the day at 4.48 percent or 206.70 points, and a total turnover of 49.891 million shares.

Muhammad Rizwan, Director Brokerage Chase Securities said that the market has become increasingly unpredictable, resembling a rollercoaster ride or a boat sailing on rough seas, due to the ongoing tariff war initiated by the United States.

He said that the anticipated cut in fuel prices, coupled with the recent decline in electricity prices, is likely to lead to lower inflation. This, in turn, may prompt a decrease in interest rates, which can boost investor sentiment towards cyclical stocks such as cements and consumer appliances, he added.