KSE-100 recovers 623 points amid institutional support

KARACHI: The Pakistan Stock Exchange (PSX) rebounded strongly on Tuesday, retracing Monday’s declines as the benchmark KSE-100 Index surged to an intraday high of 116,700 before closing 0.54 per cent higher on a day-on-day basis. The institutional support was visible during the session.

The Pakistan Stock Exchange’s (PSX) benchmark KSE 100 Index increased by 622.95 points, or 0.54 per cent, to 115,532.43 points, up from the 114,909.49 points recorded in the last session. The highest index of the day remained at 116,692.29 points, while the lowest level was recorded at 115,560.91 points.

Ahsan Mehanti, an analyst at Arif Habib Corp, said, “Stocks staged recovery led by scrips across the board amid retreat in global equities and crude oil prices eyeing negotiation on Trump tariff levies.”

He said that institutional support expecting imminent release of the IMF tranche next month, SBP policy easing and government resolve for Rs1.5 trillion gas circular debt played a catalyst role in the bullish close at the PSX.

The KSE-30 index increased by 120.37 points or 0.34 per cent to 35,661.68 points against 35,541.31 points.

Traded shares decreased by 180 million shares to 530.694 million shares from 710.788 million shares. The trading value dropped to Rs33.677 billion from Rs43.023 billion. Market capital inched up to Rs14.139 trillion against Rs14.001 trillion. Of the 454 companies active in the session, 273 closed in green, 127 in red, and 54 remained unchanged.

Analyst Naveed Nadeem at Topline Securities said the KSE-100 index closed at 118,938, gaining 623 points (0.54 per cent). “In line with the global trend, the market saw a recovery,” he said. The positive momentum was mainly driven by strong performances from LUCK, MARI, MEBL, BAHL, and BAFL, which together contributed 688 points to the index.

The highest increase was recorded in Bata Pakistan Limited, which rose by Rs133.29 to Rs1,662.05 per share, followed by Philip Morris (Pakistan) Limited, which increased by Rs108.02 to Rs1,188.20 per share. A significant decline was noted in Service Industries Limited, which fell by Rs77.50 to Rs992.63 per share; Khyber Textile Mills Limited followed it, which closed lower by Rs45.21 to Rs437.92 per share. Brokerage Arif Habib Ltd stated the rally was fuelled by renewed investor confidence, supported by significant developments in the mining sector and selective buying in key stocks.

Leading the gains were LUCK (+6.65 per cent), MARI (+5.05 per cent), and MEBL (+1.46 per cent), contributing notably to the index’s upward momentum. The major boost came following news that National Resources, a joint venture in which LUCK and FATIMA each hold a 33.33 per cent stake, has made a substantial copper, gold, and silver discovery in the Chagai district of Balochistan. This announcement sparked bullish sentiment, particularly in the mining and cement sectors.

Despite Tuesday’s gains, the technical ‘Monday Gap’ remains a key resistance level for the index. A decisive break above it would be needed to shift the near-term bias further upward. Nonetheless, the strong close and upbeat sectoral developments hint at growing optimism in the market moving forward, it stated.

Cnergyico PK remained the volume leader with 121.664 million shares, which closed higher by 57 paisas to Rs8.40 per share. Bank Al-Falah, with 32.603 million shares, followed it, which closed higher by Rs1.87 to Rs75.3 per share. Other significant turnover stocks included K-Electric Ltd, Sui South Gas, BO Punjab XD, WorldCall Telecom, Pak Int. Bulk, Fauji Cement, At-Tahur Ltd, and Pak Refinery.

In the futures market, 312 companies recorded trading, 228 of which increased, 79 decreased and 5 remained unchanged.