RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) extended its bull run on Monday, closing at another all-time high, as across-the-board buying, optimism over better-than-expected corporate earnings, and growing expectations of a policy rate cut in the upcoming MPC meeting drove investor sentiment.

The benchmark KSE-100 Index surged 2,662.86 points or 1.44 percent to close at 187,761.69 points, compared to the previous close of 185,098.83 points. During the session, the index touched an intraday high of 187,882.05 points and a low of 186,127.35 points, reflecting sustained buying interest throughout the day.

On Monday, the BRIndex100 closed at 20,265.68 points, gaining 287.44 points or 1.44 percent, with total turnover of 1.04 billion shares. Meanwhile, the BRIndex30 settled at 63,983.83 points, up 276.30 points or 0.43 percent, with a traded volume of 697.42 million shares.

Commenting on the market performance, Ali Najib, Deputy Head of Trading at Arif Habib Limited, said the PSX had resumed its bull run and recorded another all-time high closing. He noted that investors engaged in across-the-board buying, supported by better-than-expected corporate results ahead and growing expectations of a policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting scheduled for January 26, following signals of further monetary easing from recent Treasury bills and Pakistan Investment Bond auctions.

He added that ENGROH, UBL, HUBC, FFC, MEBL and SRVI were the major contributors, collectively adding 1,555 points to the KSE-100 Index.

Market activity improved noticeably. Ready-market turnover rose to 1.20 billion shares, compared to 959.53 million shares in the previous session, while traded value stood at Rs63.80 billion, lower than Rs69.46 billion previously. Market capitalization increased to Rs21.19 trillion, from Rs20.97 trillion, reflecting a sizable expansion in market value.

Market breadth remained positive. In the ready market, 278 companies closed higher, 167 declined, while 41 remained unchanged, out of a total of 486 traded companies.

In terms of volume leaders, Bank Makramah topped the chart, with 246.26 million shares traded, closing at Rs5.45. It was followed by Pakistan International Bulk Terminal, which recorded 104.63 million shares, closing at Rs22.59, while K-Electric Limited ranked third with 63.31 million shares traded, ending the session at Rs6.55.

On the price movers’ board, Service Industries Limited emerged among the key gainers, with its share price rising by Rs143.46 to close at Rs1,850.57, while Unilever Pakistan Foods Limited gained Rs102.08 to close at Rs28,261.25. On the losing side, PIA Holding Company Limited (B) declined by Rs181.99 to Rs20,766.01, whereas Khyber Textile Mills Limited shed Rs54.75 to close at Rs1,730.00.

Sector-wise performance remained largely positive. The BR Automobile Assembler Index closed at 26,233.79 points, posting a net gain of 427.16 points or 1.66 percent, with turnover of 3.69 million shares. The BR Cement Index advanced to 14,120.66 points, rising 161.52 points or 1.16 percent, on volume of 36.11 million shares.

The BR Commercial Banks Index ended at 58,846.86 points, higher by 712.08 points or 1.22 percent, with turnover of 298.95 million shares. Likewise, the BR Power Generation and Distribution Index closed at 29,702.29 points, recording a gain of 621.23 points or 2.14 percent, with traded volume of 111.88 million shares.

The BR Oil and Gas Index settled at 16,252.28 points, up 84.51 points or 0.52 percent, on turnover of 55.16 million shares. In contrast, the BR Technology and Communication Index closed marginally lower at 4,272.87 points, edging down 0.17 points, with volume of 128.90 million shares.

Overall, the session reflected robust investor confidence, underpinned by record index levels, broad-based participation, rising market capitalization, and optimism surrounding the interest-rate outlook.