RECORDER REPORT
KARACHI: The Pakistan Stock Exchange (PSX) began the new week on a bullish note Monday as across-the-board buying lifted key indices to fresh record levels.
The benchmark KSE-100 Index gained 1,590.68 points, or 0.98 percent, closing at 163,847.69 against 162,257.01 in the previous session. The index moved between an intraday high of 163,903.62 and a low of 162,058.64 points.
On Monday, the BRIndex100 settled at 17,135.30 points, recording an increase of 223.33 points, or 1.32 percent, from the previous close. The index witnessed a total volume of 1,000 million shares. The BRIndex30 ended the session at 56,031.57 points, up 358.77 points, or 0.64 percent, with a turnover of 680.19 million shares.
According to JS Global, the market witnessed another powerful trading session as the KSE-100 Index reached a new intraday high. The brokerage noted that strong buying interest continued to fuel momentum, keeping sentiment upbeat and driving another historic gain.
It added that the rally was primarily led by banking, fertilizer, and exploration and production (E&P) stocks, which drew robust investor participation. However, some profit-taking in cement stocks slightly capped broader gains.
Market capitalization improved by Rs119.79 billion, reaching Rs19.16 trillion from Rs19.04 trillion on Friday.
Turnover, however, showed a decline. The ready market recorded 1.28 billion shares against 1.71 billion shares in the previous session, with a traded value of Rs65.77 billion, down from Rs70.74 billion.
Out of 482 companies traded in the ready market, 235 scrips closed higher, 216 declined, and 31 remained unchanged.
WorldCall Telecom topped the volume chart with 118.94 million shares, declining to Rs1.82. K-Electric followed with 78.20 million shares, ending unchanged at Rs7.15. Hascol Petroleum recorded 63.52 million shares, shedding to Rs13.67.
Among individual gainers, Rafhan Maize Products surged by Rs293.03 to close at Rs10,799.13, while Sapphire Fibres Limited rose by Rs115.43 to Rs1,269.70. On the losing side, Unilever Pakistan Foods suffered the steepest decline of Rs1,807.70, settling at Rs30,500.31, followed by PIA Holding Company Limited-B, which fell by Rs1,404.97 to Rs25,284.63.
The BR Automobile Assembler Index finished the session at 24,775.05, showing a decline of 159.5 points, or 0.64 percent, with a turnover of 8.08 million shares. The BR Cement Index settled at 13,640.85, down 116.11 points, or 0.84 percent, on a volume of 55.58 million shares.
The BR Commercial Banks Index advanced 734.44 points, or 1.58 percent, to close at 47,210.65, with 106.77 million shares traded. The BR Power Generation and Distribution Index ended at 29,537.90, gaining 109.71 points, or 0.37 percent, with a turnover of 96.40 million shares.
The BR Oil and Gas Index climbed 193.16 points, or 1.33 percent, to finish at 14,703.20, with 111.20 million shares changing hands. Meanwhile, the BR Technology and Communication Index rose 55.97 points, or 1.52 percent, closing at 3,733.98 on the back of 231.34 million shares traded.
According to Topline Securities the rally was largely driven by aggressive buying from local mutual funds. NCCPL data shows that mutual funds were hefty net buyers on Friday, and the momentum carried through to today’s session, giving the market a solid lift.
