Bulls retake Pakistan Stock Exchange ahead of results season

KARACHI: After a two-day breather, the bulls reclaimed the Pakistan Stock Exchange on Thursday. The benchmark KSE-100 Index surged by 1,205 points (+0.91%), closing at 133,782, just shy of the intraday high of 1,325 points.

“The upbeat momentum was underpinned by growing investor optimism ahead of the corporate results season, set to kick off tomorrow. Anticipation of strong earnings reports spurred broad-based buying across key sectors,” Topline Securities Ltd stated.

In the textile sector, Nishat Mills Limited (NML) emerged as a standout performer. Following a report issued by Topline Securities earlier today, investor interest was reinvigorated. We continue to maintain our BUY stance on NML with a June 2026 target price of Rs225, adding fuel to the bullish sentiment in the stock, Topline added.

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“The benchmark index closed on a positive note, largely driven by strength in the banking sector amid growing excitement around the upcoming earnings season. Investor sentiment remained upbeat as expectations of results fueled buying interest,” Ismail Iqbal Securities said.

Commercial Banks, Fertilizer, and Textile Composite sectors were the major contributors in today’s session.

“Record remittances of USD 38.3bn in FY25 (up 26.6% YoY), progress on the Roosevelt Hotel’s USD 1.0bn valuation in the proposed redevelopment plan, World Bank’s likely support for Reko Diq, a 10% rise in US exports, and a USD 1 billion syndicated loan by Dubai Islamic Bank all boosted investors’ confidence,” and analyst at Al Habib Capital Markets said.

On the leaderboard, MEBL, MCB, UBL, BAHL, FFC, HBL, and BAFL were the top contributors, collectively adding +702 points to the index.

Investor participation remained robust, with total market volume clocking in at 940 million shares and a solid turnover of Rs36.03 billion. BOP led the volumes chart with 155 million shares traded.