RECORDER REPORT

KARACHI: Pakistan Stock Exchange saw modest upward momentum on Monday, fueled by investor interest in cement and technology stocks ahead of the monetary policy announcement and key corporate earnings. The benchmark KSE-100 Index gained 172.77 points, or 0.12 percent, to close at 139,380.06 points as compared to the previous closing of 139,207.29 points. After a strong start, the index touched an intraday high of 140,149.23 points before paring gains on late-session profit-taking. It moved within a narrow range, with a low of 139,195.85 points.

On Monday, BRIndex100 settled at 14,282.01 points, down 25.42 points or 0.18 percent with total volume at 417.465 million shares. BRIndex30 also ended in the red, losing 20.53 points or 0.05 percent to close at 39,900.31, with a turnover of 182.955 million shares.

According to a market review by Topline Securities, the banking sector remained under pressure due to growing expectations of a policy rate cut, while the cement sector experienced renewed buying interest following the Economic Coordination Committee’s (ECC) approval of the Housing Finance Subsidy Scheme. Positive momentum in cement stocks helped offset declines in select financials.

Key gainers that contributed positively to the index included Lucky Cement (LUCK), Systems Ltd (SYS), Pakistan State Oil (PSO), Fatima Fertilizer (FATIMA), and Sazgar Engineering Works (SAZEW), which together added 379 points. Conversely, losses in United Bank Limited (UBL), Meezan Bank (MEBL), and Bank Alfalah (BAFL) shaved 261 points off the benchmark.

Overall market participation remained healthy, with total traded volume recorded at 589 million shares, slightly down from 635 million in the previous session. Turnover, however, surged to Rs 34.56 billion from Rs 24.61 billion, indicating interest in higher-value stocks.

The total market capitalization of the Pakistan Stock Exchange rose to Rs. 16.72 trillion, marking an increase of approximately Rs. 31.17 billion from the previous session’s Rs. 16.69 trillion. The uptick reflects investor interest in key sectors despite an overall cautious trading environment.

Among the volume leaders, Aisha Steel Mills led the chart with over 51.8 million shares traded, closing at Rs 12.76. Agha Steel Industries followed with a volume of 46.6 million shares, ending the day at Rs 9.92. Bank of Punjab ranked third with 23.7 million shares changing hands, settling at Rs 13.49.

Among the day’s major movers, Atlas Honda Limited and Sazgar Engineering Works led the gainers, advancing by Rs 77.29 and Rs 62.91 to close at Rs 1,237.54 and Rs. 1,312.90, respectively. On the losing side, Unilever Pakistan Foods suffered the steepest decline, shedding Rs 627.42 to settle at Rs 33,512.13, followed by PIA Holding Company-B, which dropped Rs 386.62 to close at Rs. 31,548.00.

The broader market displayed a positive tilt on Monday, as 251 companies closed in the green while 205 ended in the red. Another 27 companies remained unchanged, out of a total of 483 actively traded on the ready counter.

The BR Automobile Assembler Index recorded a gain of 395.6 points, or 1.72 percent, to close at 23,420.99 points, with a total turnover of 7.93 million shares. While, The BR Cement Index surged by 228.57 points, an increase of 2.14 percent, finishing the session at 10,928.38 points, as over 42.7 million shares exchanged hands.

The BR Commercial Banks Index declined by 603.58 points, or 1.48 percent, settling at 40,065.31 points, with a turnover of approximately 59.69 million shares. The BR Power Generation and Distribution Index ended lower by 149.01 points, down 0.68 percent, closing at 21,643.08 points, with a traded volume of nearly 26.99 million shares.

Meanwhile, the BR Oil and Gas Index edged up by 33.61 points, or 0.28 percent, to close at 12,094.57 points, with 36.71 million shares traded. The BR Technology & Communication Index also posted gains, rising by 35.15 points or 1.16 percent, to finish at 3,068.20 points, with the highest sectoral volume of the day at 60.68 million shares.

According to Mohammed Waqar Iqbal of JS Global, the KSE-100 Index ended largely flat despite a strong start, as early gains were erased later in the session. He noted that investor sentiment remained cautious due to the ongoing corporate earnings season and anticipation surrounding the upcoming monetary policy announcement.