RECORDER REPORT

KARACHI: The Pakistan Stock Exchange sustained its record-breaking rally on Wednesday, fueled by a strong economic outlook and led by robust gains in banking stocks.

The benchmark KSE-100 Index soared by 2,051 points, or 1.43 percent, to settle at an all-time closing high of 145,088.50 points as compared to 143,037.17 points of previous day close. The index had earlier surged as much, touching 145,187.17 points, reflecting intensified investor optimism across sectors.

On Wednesday, BRIndex100 closed at 14,856.17 points which was 255.15 points or 1.75 percent higher than previous close with the total volume remaining 610.714 million shares. Meanwhile, BRIndex30 closed at 42,343.54 points which was 816.35 points or 1.97 percent higher than previous close and the total volume was 321.209 million shares.

According to Topline Securities’ Market Review, banking sector surge propels KSE-100 beyond 145k mark. The review noted that the equity market sustained its bullish charge throughout the day, with banking stocks emerging as the star performers. Heavyweights HBL, NBP, MEBL, and UBL collectively added 1,017 points to the index. HBL and NBP hit their upper circuits during intraday trading, although mild profit-taking toward the close trimmed some of the gains.

The ready market recorded a turnover of over 788 million shares, as compared to the turnover of 549 million shares on Tuesday. The traded value also exceeds to Rs 52.78 billion on Wednesday— a sharp rise from the previous session’s Rs 37 billion in value.

Among the volume leaders, Bank of Punjab (BOP) dominated trading activity with 67.5 million shares changing hands, closing at Rs 14.24. National Bank of Pakistan (NBP) followed closely, recording a turnover of 49.1 million shares and settling at Rs 139.22. First Dawood Investment Bank ranked third, with 44.7 million shares traded and a closing price of Rs 7.04.

The day’s biggest gainer was PIA Holding Company Limited, which surged by a staggering Rs 1,419.87 to close at Rs 30,935.90. Nestle Pakistan also posted significant gains, climbing Rs 869.83 to settle at Rs 9,568.15. On the losing side, Unilever Pakistan Foods led the laggards, dropping Rs 321.66 to close at Rs 33,092.14, followed by Ismail Industries, which declined Rs 49.04 to end the session at Rs 2,130.99.

The rally added a significant boost to the market’s overall value, with market capitalization increasing by Rs 234 billion to reach a total of Rs 17.343 trillion, up from Rs 17.109 trillion in the previous session.

The overall market breadth remained firmly positive, with 264 companies advancing, 192 declining, and 28 remaining unchanged, out of a total of 484 actively traded companies on the ready counter.

The BR Automobile Assembler Index advanced by 495.28 points, or 2.14 percent, to close at 23,666.25 points, with a total turnover of 8.49 million shares. The BR Cement Index posted a gain of 148.59 points, rising 1.32 percent to settle at 11,431.11 points, with a turnover of 53.10 million shares.

The BR Commercial Banks Index led the sectoral gains, climbing 1,282.88 points, or 3.12 percent, to close at 42,444.47 points, with a robust turnover of 187 million shares. The BR Power Generation and Distribution Index closed at 22,874.75 points, after gaining 266.87 points, or 1.18 percent, with 28.47 million shares traded.

The BR Oil and Gas Index edged up by 105.14 points, or 0.82 percent, to finish at 12,917.89 points, with a total turnover of 37.51 million shares. In contrast, the BR Technology & Communication Index slipped slightly, shedding 0.79 points, or 0.02 percent, to close at 3,289.05 points, with 60.17 million shares changing hands.

According to Ahsan Mehanti, Director at Arif Habib Corporation, the rally was fueled by macroeconomic stability and policy clarity. “Stocks reached a new all-time high amid a strong economic outlook. A surging rupee—supported by government subsidies under the fully funded remittances scheme—rising global crude oil prices, and the government’s resolve to settle power sector circular debt, which will ease industrial tariffs, all played a catalyst role in today’s bullish close. Financial restructuring measures also buoyed market sentiment,” he noted.