RECORDER REPORT

KARACHI: Pakistan Stock Exchange (PSX) staged a modest recovery on Thursday as selective buying in blue-chip stocks helped the index close in positive territory despite persistent geopolitical uncertainties that continued to dominate investor sentiment throughout the week.

The benchmark KSE-100 Index gained 276.16 points or 0.16 percent to settle at 169,703.60 points compared to the previous close of 169,427.44 points. The market remained volatile during the session, with the index touching an intraday high of 170,138.19 points and a low of 168,682.25 points before recovering to finish in the green.

BRIndex100 closed at 18,725.11 points, up by 22.37 points or 0.12 percent from the previous session, with total volume reaching 565.00 million shares. BRIndex30, however, slipped by 70.45 points or 0.10 percent to close at 68,085.45 points despite recording turnover of 345.90 million shares.

According to Topline Securities, the benchmark KSE-100 Index concluded the trading session on a buoyant note, posting modest gains amid an otherwise turbulent week shaped by geopolitical headwinds.

The brokerage house noted that heavyweight stocks including Meezan Bank Limited (MEBL), Mari Energies (MARI), Engro Holdings (ENGROH), United Bank Limited (UBL), and Pakistan Oilfields Limited (POL) emerged as the primary drivers of the market’s upside momentum, collectively contributing 315 points to the benchmark index and reflecting sustained institutional interest in leading banking and energy sector scrips.

Overall market activity remained healthy despite the cautious environment. In the regular market, total turnover stood at 771.93 million shares compared to 791.64 million shares in the previous session.

However, traded value increased significantly to Rs27.05 billion from Rs25.48 billion a day earlier.

The total capitalization of the regular market rose to Rs18.877 trillion from Rs18.848 trillion recorded in the previous session, reflecting an increase of approximately Rs28.23 billion in investor wealth as buying interest returned to selected blue-chip counters.

Market breadth, however, remained tilted toward declining shares. In the ready market, 190 companies advanced, 250 declined and 47 remained unchanged out of 487 traded companies.

Trading activity in the ready market was concentrated in a handful of highly liquid stocks. First National Equities Limited topped the volume chart with turnover of 118.36 million shares, closing at Rs1.35. Sitara Petroleum followed with 53.70 million shares, surging to close at Rs21.66. Maple Leaf Cement Factory ranked third with turnover of 35.48 million shares and a closing price of Rs86.51.

On the gainers’ board, Sapphire Fibres Limited emerged as the top performer, soaring by Rs100.22 to close at Rs1,102.46, followed by Tandlianwala Sugar Mills Limited, which gained Rs46.64 to settle at Rs513.04.

Conversely, Khyber Textile Mills Limited registered the steepest decline, falling by Rs50.36 to close at Rs1,464.21, while Blessed Textiles Limited shed Rs43.19 to settle at Rs1,129.29.

Among sectoral BR indices, the BR Commercial Banks Index remained one of the strongest performers, rising 294.62 points or 0.52 percent to settle at 56,803.88 points on turnover of 23.10 million shares. The BR Oil and Gas Index gained 56.25 points or 0.38 percent to close at 14,872.26 points with trading volume of 81.89 million shares.

The BR Cement Index advanced by 34.03 points or 0.29 percent to finish at 11,847.49 points on turnover of 58.81 million shares, while the BR Tech & Communication Index edged up 3.34 points or 0.09 percent to 3,864.54 points on turnover of 90.36 million shares.

On the other hand, the BR Automobile Assembler Index fell by 101.29 points or 0.37 percent to close at 27,097.55 points with turnover of 4.52 million shares, while the BR Power Generation and Distribution Index declined by 115.66 points or 0.42 percent to settle at 27,423.69 points on turnover of 17.05 million shares.

Analysts said the market’s ability to close higher despite ongoing geopolitical uncertainties reflected continued institutional support in fundamentally strong stocks.

However, investors are expected to remain vigilant in the coming sessions as developments on regional geopolitical fronts, global oil prices and foreign policy headlines continue to influence market direction and risk appetite.