RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) staged a strong recovery on Tuesday, as investors responded positively to the State Bank of Pakistan’s (SBP) decision to keep the policy rate unchanged at 11.50 percent, triggering selective buying across major sectors and helping the market recover a substantial portion of the previous session’s losses.

The benchmark KSE-100 Index closed at 169,392.33 points against Monday’s close of 167,970.66 points, gaining 1,421.67 points after moving between an intraday high of 169,988.12 points and a low of 169,189.30 points.

The BRIndex100 closed at 18,571.36 points, gaining 124.11 points, or 0.67 percent, over the previous close, with a total volume of 287.283 million shares. The BRIndex30 increased by 225.45 points, or 0.34 percent, to 67,360.90 points on turnover of 161.069 million shares.

According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the recovery followed the SBP Monetary Policy Committee’s decision to maintain the policy rate at 11.50 percent, with investors taking fresh positions across assemblers, cement, commercial banks, exploration and production companies, refineries, power and oil marketing companies.

He further said that, on the index contribution front, UBL, FFC, LUCK, BAFL, PSEL, POL, ENGROH, BAHL, MCB and SYS emerged as the major positive contributors, collectively adding 1,024 points to the benchmark. The gains came a day after the KSE-100 had fallen 2,541.20 points amid escalating geopolitical tensions, elevated international oil prices and concerns over fuel inflation and the external account.

Despite the broad-based price recovery, trading activity contracted in the ready market. Total ready-market volume declined to 372.016 million shares from 570.472 million shares on Monday, a reduction of 198.456 million shares, or 34.79 percent. Traded value also decreased to Rs17.210 billion from Rs24.672 billion, falling by Rs7.462 billion, or 30.24 percent.

Aggregate market capitalization, however, expanded by Rs128.371 billion to Rs18.857 trillion from Rs18.728 trillion in the preceding session as share prices recovered across most sectors.

Market breadth turned positive, with 280 companies advancing, 166 declining and 48 remaining unchanged out of 494 active issues in the ready market.

Cnergyico PK continued to dominate ready-market activity, with 56.229 million shares changing hands. The stock closed the day unchanged at Rs12.81.

Media Times Ltd followed with 39.882 million shares. It finished at Rs7.70 against Rs7.64 previously.

Pak Refinery recorded 22.510 million shares, closing at Rs83.10 compared with Rs85.40.

In ready-market price movements, Pakistan Services Limited posted the largest gain, advancing Rs95.17 to close at Rs1,291.39. Sapphire Fibres Limited followed with a gain of Rs32.31, ending at Rs1,064.44.

On the losing side, Unilever Pakistan Foods Limited recorded the largest decline, falling Rs174.51 to Rs23,934.71, while Buxly Paints Limited shed Rs75.11 to close at Rs676.02.

Meanwhile, The BR Automobile Assembler Index gained 166.58 points, or 0.73 percent, to 22,996.99 points on turnover of 2.010 million shares.

The BR Cement Index advanced 223.23 points, or 1.96 percent, to 11,639.99 points, with 16.502 million shares traded. The BR Commercial Banks Index rose 374.44 points, or 0.64 percent, to 58,497.18 points on volume of 17.706 million shares.

The BR Power Generation and Distribution Index increased 137.16 points, or 0.53 percent, to 25,787.57 points on turnover of 15.365 million shares.

The BR Oil and Gas Index gained 64.98 points, or 0.44 percent, to 14,694.34 points on turnover of 18.112 million shares.

The BR Tech. & Comm. Index closed at 3,365.18 points, up 32.09 points, or 0.96 percent, with total turnover of 74.018 million shares.

Analysts said the recovery reflected improved investor sentiment following the SBP’s decision to maintain the policy rate. Ali Najib said market activity is expected to remain volatile going forward, with selective profit-taking and stock-specific moves likely amid the ongoing result season. He added that geopolitical developments and elevated oil prices would remain key drivers of market direction.