RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) staged a firm recovery on Friday as broad-based buying helped benchmark indices close higher, reversing part of the losses recorded in earlier sessions. Improved investor sentiment, supported by positive policy cues lifted the market into positive territory despite lingering volatility.

The benchmark KSE-100 Index rebounded strongly, with the market largely trading in the green throughout the session before closing 1,836.37 points, or 1.01 percent higher, at 184,174.49. The index fluctuated between a high of 186,619.52 and a low of 182,347.48, indicating a sustained bullish trend.

On Friday, the BRIndex100 closed at 19,787.39 points, posting a gain of 175.24 points, or 0.89 percent, compared with the previous session. Total turnover on the index stood at 605.77 million shares, reflecting healthy participation in large-cap stocks. Meanwhile, the BRIndex30 registered a stronger performance, rising 510.52 points, or 0.82 percent, to close at 62,697.25 points, with a trading volume of 400.35 million shares, indicating renewed buying interest in highly liquid scrips.

According to Topline Market Review, the KSE-100 Index rebounded as the market largely traded in positive territory during the session, supported by selective accumulation in heavyweight stocks. The brokerage said the strongest positive contribution to the benchmark came from Engro Holdings (ENGROH), Lucky Cement (LUCK), United Bank Limited (UBL), Meezan Bank Limited (MEBL), Mari Petroleum (MARI), and Habib Bank Limited (HBL), which collectively added 1,197 points to the index, providing a solid foundation for the day’s gains.

Topline further noted that investor interest picked up in the textile sector during the second half of the session, following news that Prime Minister Shehbaz Sharif announced a reduction of 300 basis points in the Export Finance Scheme (EFS) rate to 4.5 percent. The policy move improved sentiment toward export-oriented stocks, encouraging selective buying and contributing to the market’s positive close.

Total market capitalization increased by Rs209.57 billion, rising to Rs20.83 trillion, compared with Rs20.62 trillion in the previous session.

Trading activity in the Ready Market remained healthy, though volumes eased slightly. Total turnover stood at 805.14 million shares, down from 933.10 million shares previously. However, the value of shares traded amounted to Rs50.83 billion, reflecting sustained interest in relatively higher-priced stocks.

Market breadth reflected underlying strength. In the Ready Market, 258 stocks advanced, 175 declined, while 51 remained unchanged, out of 484 traded companies.

Trading volumes were largely concentrated in energy, power generation and telecom stocks. K-Electric Limited topped the volume chart, with 81.42 million shares traded, closing slightly lower at Rs7.10. Hascol Petroleum Limited followed with a turnover of 66.47 million shares, closing sharply higher at Rs26.49, reflecting strong speculative interest. WorldCall Telecom recorded 53.71 million shares, ending at Rs1.64, while Bank of Punjab traded 28.31 million shares, closing at Rs38.88. Pakistan Telecommunication Company Limited (PTCL) rounded out the top five with 24.91 million shares, closing at Rs61.98.

On the gainers’ board, Unilever Pakistan Foods Limited emerged as the top performer, surging by Rs373.17 to close at Rs27,719.00, followed by Rafhan Maize Products Company Limited, which gained Rs99.55 to settle at Rs10,075.00.

On the losing side, Khyber Textile Mills Limited recorded the steepest decline, shedding Rs42.32 to close at Rs1,595.18, while Al-Abbas Sugar Mills Limited fell by Rs29.33 to Rs985.37, reflecting selective profit-taking in high-priced stocks.

Sector-wise performance under the BR indices remained broadly supportive of the market’s recovery. The BR Automobile Assembler Index closed higher at 27,141.76 points, recording a net gain of 305.57 points, or 1.14 percent, with a turnover of 3.20 million shares, as buying returned to selected auto stocks. The BR Cement Index also ended firmly in the green, advancing 246.43 points, or 1.85 percent, to close at 13,550.60 points, supported by volumes of 32.30 million shares amid renewed interest in construction-related names.

The BR Commercial Banks Index registered a notable improvement, climbing 459.37 points, or 0.81 percent, to settle at 57,351.53 points, with a turnover of 70.15 million shares, reflecting a selective recovery in banking stocks after recent selling pressure.

Similarly, the BR Power Generation and Distribution Index emerged among the strongest performers, rising 566.81 points, or 1.96 percent, to close at 29,429.46 points, on healthy volumes of 139.80 million shares, driven by active trading in power sector stocks.

The BR Oil and Gas Index also posted solid gains, advancing 201.12 points, or 1.26 percent, to close at 16,222.63 points, with a turnover of 98.72 million shares, as renewed buying interest supported exploration and energy-related stocks. Meanwhile, the BR Technology and Communication Index edged higher by 14.13 points, or 0.35 percent, to settle at 4,102.42 points, with trading volumes of 114.86 million shares, reflecting modest recovery in select technology stocks.

Overall, Friday’s session reflected a constructive rebound at the Pakistan Stock Exchange, as supportive policy signals, selective institutional buying, and recovery in key sectors helped lift benchmark indices.