RECORDER REPORT
KARACHI: Pakistan Stock Exchange (PSX) extended its recovery on Tuesday as easing international crude oil prices and broad-based buying across key sectors lifted investor sentiment, despite the State Bank of Pakistan’s recent 50 bps policy rate hike.
The benchmark KSE-100 Index closed at 164,467.20 points against 163,038.47 points in the previous session, gaining 1428.73 points or 0.88 percent. During the trading, the index touched an intraday high of 164,787.67 points and a low of 163,545.70 points.
BRIndex100 closed at 18,045.36 points, gaining 143.70 points, or 0.80 percent, with a total turnover of 305.791 million shares. BRIndex30 rose by 855.91 points, or 1.35 percent, to settle at 64,460.63 points, with a total volume of 184.743 million shares.
According to Topline Securities, buying interest remained prominent in the cement, automobile and banking sectors, with FCCL, MLCF, GAL, GHNI, PIBTL and CNERGY among the stocks in focus amid earnings announcements and improved profitability. MCB, FFC, UBL, PPL and NBP were the major contributors to the benchmark’s advance, collectively adding approximately 490 points.
Ready-market activity strengthened, with turnover increasing to 401.969 million shares from 376.020 million shares in the previous session. This represented an increase of 25.949 million shares, or 6.90 percent. Traded value expanded to Rs. 18.070 billion from Rs. 16.192 billion, rising by Rs. 1.877 billion, or 11.59 percent.
Total market capitalisation increased by Rs. 153.829 billion to Rs. 18.215 trillion from Rs. 18.061 trillion previously. Market breadth was positive, with 282 companies advancing, 170 declining and 45 remaining unchanged out of 497 active issues.
K-Electric led ready-market turnover with 54.027 million shares. The stock closed at Rs. 5.80 against the previous close of Rs. 5.65. Cnergyico PK followed with 30.699 million shares. It settled at Rs. 12.72 compared with Rs. 12.30 previously. WorldCall Telecom recorded turnover of 24.034 million shares. The stock finished the day at Rs. 0.96 against the previous close of Rs. 0.88.
Among ready-market price gainers, Ghandhara Industries Limited recorded the largest increase, rising by Rs. 96.47 to close at Rs. 1,061.16. Pakistan Tobacco Company Limited followed, gaining Rs. 73.63 to settle at Rs. 1,473.58.
On the losing side, Rafhan Maize Products Company Limited recorded the largest decline, shedding Rs. 162.81 to finish at Rs. 8,337.19. Khairpur Sugar Mills Limited followed, falling by Rs. 139.98 to close at Rs. 1,259.84.
Sectoral performance was broadly positive. The BR Automobile Assembler Index advanced by 372.00 points, or 1.78 percent, to close at 21,288.97 points, with turnover of 5.504 million shares. The BR Cement Index gained 113.53 points, or 1.01 percent, to settle at 11,397.90 points, with volume of 25.623 million shares.
The BR Commercial Banks Index increased by 632.50 points, or 1.12 percent, to close at 57,041.49 points, with turnover of 17.544 million shares. The BR Power Generation and Distribution Index rose by 215.77 points, or 0.89 percent, to finish at 24,451.85 points, with volume of 76.952 million shares.
The BR Oil and Gas Index gained 84.10 points, or 0.57 percent, to close at 14,734.98 points, with turnover of 10.798 million shares. The BR Technology and Communication Index also advanced, adding 3.77 points, or 0.13 percent, to settle at 2,993.91 points, with volume of 54.275 million shares.
Analysts expect the market to maintain a positive bias, citing relief over the SBP’s rate increase being lower than feared and ongoing diplomatic efforts to ease US-Iran tensions. However, they cautioned that geopolitical uncertainty, international oil prices and evolving macroeconomic conditions could continue to influence investor sentiment, leaving room for volatility and selective buying.
