Pakistan stocks surge on strong cyclical and blue-chip support

KARACHI: The benchmark KSE-100 Index of Pakistan Stock Exchange kicked off the day on a strong footing, wrapping up a robust session with a 638.50 points, or 0.54 per cent), surge to close at 118,971 on Thursday, analysts said. 

Intraday excitement peaked with a highest gain of 1,306 points, reflecting bullish sentiment across the board.

Driving Thursday’s upward momentum were heavyweights like LUCK (Lucky Cement), UBL (United Bank), FFC (Fauji Fertilizer), ENGROH (Engro Holdings), and MARI (Mari Energies), collectively contributing 413 points to the index, Topline Securities said.

Cyclical stocks also stole the spotlight, with INIL (International Industries), ASTL (Amreli Steel), ISL (International Steel), MLCF (Maple Leaf Cement), LUCK (Lucky Cement), and DGKC (DG Khan Cement) catching strong investor interest and finishing the day in the green, outperforming their previous closes.

“The benchmark index closed on a positive note, as investors began positioning themselves, reflecting cautious optimism ahead of further clarity on fiscal measures,” Ismail Iqbal Securities stated. 

Read more: Cement sales to dip 5pc in FY25, rebound by 3pc in FY26

Market participation remained vibrant, as total trading volume soared to 740 million shares, while the value traded stood at Rs23.8 billion. WTL (Worldcall Telecom) emerged as the volume leader, with a staggering 137 million shares changing hands.

“The market remained volatile today, hitting an intraday high of 119,639.47. The key developments include Azerbaijan unveiling $2 billion investment package for Pakistan and China rolling over $3.7 billion to Pakistan by June end which could lead to a reduction in external account pressure,” Al Habib Capital stated in their research note. 

Also, the blockage of President Donald Trump’s tariffs by a US court and the appreciation of rupee by 0.04 per cent against US dollar boosted investors’ confidence.

On Wednesday, the market had witnessed a recovery with some intraday volatility, as investors remained cautious ahead of the FY26 budget. The 100 Index rose 111.78 points closing at 118,332.09 level.