PSX kicks off May with strong recovery, gains over 2,900 points

KARACHI: The Pakistan Stock Exchange (PSX) opened in the green on the first trading day of the month, following the Labour Day holiday, with the benchmark KSE-100 Index witnessing strong gains during the early trading hours.

The index surged by 1,493 points to reach 112,820.02 around 9:16 AM, with trading volume recorded at 785,062. It is worth mentioning that the KSE-100 had closed the previous session on Wednesday at 111,326.57.

The upward momentum continued as the index posted further gains. By 10:12 AM, the KSE-100 had risen by 2,142.05 points, or 1.92 per cent, to stand at 113,468.62, with trading volume climbing to 43,638,347 shares.

By 10:14 AM, the market had extended its gains to over 2.1 per cent, with the index up by 2,390.29 points at 113,716.

At this point, on a year-on-year basis, the PSX was up by 60.71 per cent. However, in year-to-date (YTD) terms, the index remained down by 1.36 per cent. Within its 52-week range, the KSE-100 has traded between a low of 70,562.12 and a high of 120,796.

Leading gainers trading in the green included Dewan Mushtaq Textile Mills Limited (DMTM), which rose by 14.37 per cent or Rs1.00 to Rs7.96; First IBL Modaraba (FIBLM), up 12.51 per cent or Rs0.35 to Rs3.15; and Dewan Textile Mills Limited (DWTM), which gained 12.08 per cent or Rs0.64 to Rs5.94.

On the other hand, despite the overall positive trend, some stocks remained in the red. These included Tariq Corporation Limited (TCORPCPS), down 12.69 per cent or Rs1.00 to Rs6.88; Apna Microfinance Bank Limited (AMBL), which fell 10.01 per cent or Rs1.10 to Rs9.89; and Sunrays Textile Mills Limited (SUTM), which dropped 10 per cent or Rs17.03 to Rs153.27.

By 10:20 AM, the PSX had extended its rally, reversing the sharp losses seen in the previous session. The index was up by 2,601.94 points at 113,928.61, reflecting a rise of over 2.2 per cent, with trading volume reaching 50,002,232 shares.

Around 10:35 AM, the PSX rose by nearly 2.6 per cent, gaining 2,917 points to reach 114,243.60, with trading volume at 70,033,577 shares.

To recap, the market remained closed on May 1 for Labour Day. In the previous session on Wednesday (April 30, 2025), the KSE-100 Index had plunged by 3,545.61 points or 3.09 per cent to close at 111,326.57 amidst rising tensions between Pakistan and India.

Investor sentiment had turned bearish amid concerns over possible Indian military action, following recent statements by the Information Minister which intensified uncertainty. However, the current session indicates a potential rebound as the market appears to be recovering from earlier losses.

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