The market faced selling pressure earlier in the day but buying interest emerged soon afterwards, pushing the index into positive territory. Selective stock purchases in cement, commercial bank, fertiliser and oil & gas exploration sectors underpinned the benchmark KSE-100 index.
The index touched the high of 183,802 and low of 182,055 during the session. At close, the KSE-100 recorded a rise of 896.25 points, or 0.49%, to settle at 183,049.81.
Topline Securities observed that the KSE-100 posted gains in a predominantly range-bound session. Throughout the day, the index moved within a narrow band. Heavyweights such as Engro Holdings, Lucky Cement, Faysal Bank, MCB Bank and Bank Alfalah supported the market’s performance as they added 920 points to the benchmark. In contrast, Bank AL Habib, Pakistan Petroleum and UBL weighed on the index, trimming 311 points, Topline said.
KTrade Securities wrote in its market wrap that the PSX closed on a positive note, marking a shift in momentum after several sessions of range-bound and negative performance. Sentiment remained firm throughout the day as investors returned with renewed confidence, driving the index steadily higher and signalling a potential short-term change in trend. Buying was focused rather than broad-based, but it remained consistent and strong across key names.
Blue-chip stocks dominated gains, where Faysal Bank hit its upper limit, while Engro Holdings, Lucky Cement, MCB Bank and Bank Alfalah emerged as major contributors. Sector-wise, investment banks, commercial banks and cement firms led the rally. However, the oil sector continued to act as a bottleneck, weighed down by reported delays related to the Reko Diq project.
Going forward, improving local security conditions and easing geopolitical tensions are likely to provide near-term support. KTrade projected that the results season would remain the key catalyst, shaping investor expectations and determining the market’s direction.
Arif Habib Limited (AHL) reported that the KSE-100 rebounded from a low of 182k, with 41 shares rising and 58 falling. Major contributors to the advance were Engro Holdings, Lucky Cement and Faysal Bank, while Bank AL Habib, PPL and UBL were the primary drags.
The PSX anticipates 12 initial public offerings this year, including the IPO of Sitara Petroleum Services, which is planning to raise up to $11.4 million. Additionally, Pakistan and the UAE are finalising the Comprehensive Economic Partnership Agreement (CEPA) to increase bilateral trade beyond the current $8-10 billion. The key level to watch for in the remaining week is 180k, AHL said.
Overall trading volumes decreased to 734.7 million shares compared with Tuesday’s tally of 1.06 billion. The value of shares traded during the day stood at Rs35.4 billion.
Shares of 477 companies were traded. Of these, 208 stocks closed higher, 223 fell and 46 remained unchanged.
K-Electric led the volumes chart with trading in 120.6 million shares, falling Rs0.03 to close at Rs8.60. It was followed by Cnergyico Pk with 81.8 million shares, losing Rs0.09 to close at Rs8.16 and First National Equities with 52 million shares, remaining unchanged at Rs1.56. Foreign investors sold shares worth Rs29.5 million, the National Clearing Company reported.