RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) extended its upward momentum for the second consecutive day as investors weigh Pak-India ceasefire talks fostering stability.

The benchmark KSE-100 Index increased by 1,278.16 points or 1.09 percent to close at 118,576 points on Tuesday compared to 117,298 points on Monday. The intraday trading index also touched a high level of 120,067 points and low level of 116,860 points. Overall, some 684 million shares were traded down from 733 million a day earlier.

Analysts said the bullish momentum from the previous session carried forward, fuelled by robust institutional buying particularly from local mutual funds, as indicated by NCCPL data.  This positive sentiment propelled the benchmark index to an impressive intraday gain of 2,769 points. The key drivers of the rally included heavyweight stocks such as PPL, OGDC, LUCK, PSO, and MARI, which collectively contributed 1,177 points to the KSE-100 index’s upward trajectory, they added.

On Tuesday, BRIndex100 opened at 12,403.25 points and finally closed at 12,643.50, which was 240.25 points or 1.94 percent higher than previous close. Total volume at BRIndex100 was 601.262 million. BRIndex30 also gained 1,731.67 points or 4.87 percent to settle at 37,292.95 points with a total volume of 402.802 million shares.

Ahsan Mehanti of Arif Habib Corp said stocks closed higher as investors weigh Pak-India ceasefire talks fostering stability and FM assurance on the thin fiscal impact of conflict. The rupee stability on easing geo political tensions & IMF loan approval, upbeat global equities and surge in global crude oil prices played a catalyst role in bullish close at PSX, he added.

The overall share trading volume market decreased from 732 million to 684 million shares. However, the share trade value increased to Rs 52.58 billion on Tuesday compared to Rs. 22.204 billion a day earlier. The market capitalization increased by 189 billion to reach Rs. 14.016 trillion.

WorldCall Telecom was the volume leader with around 42 million shares and closed at Rs 1.26 followed by Maple Leaf that closed at Rs 75.92 with 41 million shares. Sui South Gas ranked third with share trading of 35.7 million shares and it closed at Rs 32.79.

PIA Holding Company LimitedB and Lucky Core Industries Limited the top gainers increasing by Rs 850.88 and Rs 97.35 respectively to close at Rs 9,359.63 and Rs 1,557.37, while Rafhan Maize Products Company Limited and Nestle Pakistan Limited were the top losers declining by Rs 154.22 and Rs 90.58 respectively to close at Rs 8,911.00 and Rs 7,074.09.

BR Automobile Assembler Index closed at 22,336.18 points, rising by 64.45 points or 0.29 percent, with a turnover of 6.99 million shares. BR Cement Index surged to 10,140.61 points, posting a strong gain of 332.88 points or 3.39 percent, on a turnover of 125.32 million shares.

BR Commercial Banks Index declined to 34,288.59 points, down 378.15 points or 1.09 percent, with 59.82 million shares traded. BR Power Generation & Distribution Index ended at 19,663.66 points, slipping by 78.19 points or 0.4 percent, with a turnover of 43.47 million shares.

BR Oil & Gas Index gained 570.64 points or 5.04 percent to close at 11,882.96 points, on 123.67 million shares turnover. BR Technology & Communication Index finished at 4,867.14 points, adding 51.82 points or 1.08 percent, with 77.05 million shares traded.

Analysts at JS Global said the KSE-100 Index surged 2.4 percent in intraday trading, continuing its three-session rally and nearing its all-time high of 120,796 points. The bullish sentiment follows signs of de-escalation in India-Pakistan tensions, which previously weighed on the market. Additionally, the IMF’s financial support, including a fresh $1.4 billion under the Resilience and Sustainability Facility, has boosted investor confidence, they added.