RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) staged a strong rebound on Thursday, as easing global oil prices and developments suggesting a possible de-escalation in the US-Iran conflict improved investor sentiment and encouraged fresh buying across key sectors. The benchmark KSE-100 Index surged 1,021.40 points, or 0.61 percent, to close at 169,043.20 points compared to Wednesday’s close of 168,021.80 points. The index remained volatile during the session, touching an intraday high of 169,576.52 points and a low of 168,222.92 points.

The BRIndex100 closed at 18,526.40 points, gaining 138.95 points, or 0.76 percent, over the previous close, with total turnover of 275.493 million shares. The BRIndex30 rose 821.35 points, or 1.24 percent, to 67,212.49 points, with volume recorded at 127.175 million shares.

Ali Najib, Deputy Head of Trading at Arif Habib Limited, said investor sentiment improved following Trump’s remarks indicating that the war with Iran could be nearing an end, while easing oil prices further supported market sentiment. He added that reports of additional Saudi crude cargoes being routed through Oman helped alleviate concerns over possible supply disruptions. PPL, UBL, MARI, BAFL, HBL, ENGROH, LUCK, OGDC, MEBL and MLCF were the leading positive contributors, collectively adding 717 points to the KSE-100 Index.

Trading activity in the ready market expanded compared to the previous session. Ready-market volume increased to 386.368 million shares from 356.138 million shares, representing an increase of 30.230 million shares, or 8.49 percent. Total traded value also rose to Rs20.091 billion from Rs19.487 billion, an increase of Rs604.44 million, or 3.10 percent.

The improvement in equity prices lifted aggregate market capitalization by Rs126.190 billion to Rs18.847 trillion from Rs18.721 trillion in the preceding session. Market breadth also turned positive, with 296 companies advancing, 152 declining and 52 remaining unchanged out of 500 active issues in the ready market.

Media Times Ltd led ready-market turnover with 42.159 million shares. The stock closed the day at Rs7.60. Cnergyico PK followed with 25.967 million shares, settling at Rs12.88.

Naya Nazimabad recorded 15.726 million shares, closing the day at Rs23.30.

In ready-market price movements, Unilever Pakistan Foods Limited posted the largest gain, surging Rs758.17 to close at Rs24,800. It was followed by PIA Holding Company Limited (B), which advanced Rs266 to end at Rs16,266. On the losing side, Hoechst Pakistan Limited recorded the largest decline, falling Rs88.76 to close at Rs3,861.54, while Buxly Paints Limited shed Rs59.50 to finish at Rs573.93.

The BR Automobile Assembler Index declined 109.59 points, or 0.48 percent, to close at 22,554.51 points on turnover of 2.757 million shares. In contrast, the BR Cement Index advanced 112.91 points, or 0.98 percent, to 11,611.18 points, with 20.203 million shares traded.

The BR Commercial Banks Index gained 355.49 points, or 0.61 percent, to close at 58,415.99 points on volume of 29.209 million shares. The BR Power Generation and Distribution Index increased 99.03 points, or 0.39 percent, to 25,801.81 points, with turnover of 21.863 million shares.

The BR Oil and Gas Index was among the stronger sectoral performers, rising 221.07 points, or 1.51 percent, to 14,843.96 points on turnover of 30.899 million shares. The BR Tech & Comm Index also advanced, gaining 14.25 points, or 0.43 percent, to close at 3,336.93 points, with 74.048 million shares changing hands.

Ali Najib said market activity is expected to remain volatile going forward, with selective buying likely if geopolitical tensions continue to ease and oil prices trend lower. He added that elevated energy prices, external-sector risks and the upcoming IMF review would remain important factors influencing market direction.