PSX rallies over 1,000 points in early trade

KARACHI: The Pakistan Stock Exchange (PSX) started Tuesday’s session on a strong note, with the benchmark KSE-100 index surging over 1,000 points within the first half hour of trade. The market opened in the green, continuing its bullish momentum from the previous session.

At around 9:34 AM, the KSE-100 index was up by 869.08 points, standing at 156,253.58 with a traded volume of about 7.04 million shares. Just minutes later, by 9:43 AM, the index rose further by 989.22 points to reach 156,373.72 with volumes swelling to 31.58 million shares.

The momentum continued, and around 9:49 AM, the benchmark index touched 156,417.69 after gaining 1,033.19 points or 0.66 percent.

As of the latest available figures, the market has recorded a high of 156,454.97 and a low of 155,960.66 during the session, while the traded volume has crossed 55.29 million shares.

Market outlook remains strong on one-year and YTD gains

The strong opening comes against the backdrop of a remarkable one-year gain of 96.77 percent for the KSE-100 index, while its year-to-date (YTD) performance shows an increase of 35.87 percent.

In terms of the day’s trading range so far, the index has stayed between 155,960.66 and 156,454.97. Looking at the broader picture, the benchmark has traded between 79,368.18 and 157,816.77 over the past 52 weeks, showing how significantly the market has rallied from last year’s levels.

This sustained bullish sentiment appears to be driven by improving macroeconomic signals and strong participation from institutional investors, as traders continue to bet on blue-chip counters and high-volume stocks.

Top gainers and losers

Several stocks stood out as top advancers in the broader market during the session. PACE led the gains, rising 11.81 percent to Rs9.47, followed by DMC which climbed 10.01 percent to Rs58.47.

ASLCPS also gained 10.01 percent to reach Rs61.13, while ASHT and KHYT rose 10 percent each to Rs29.04 and Rs2,224.59 respectively. UVIC was up 10 percent at Rs31.58, BAPL surged 9.99 percent to Rs56.46, and ANTM rose 9.99 percent to Rs32.14. Other notable gainers included JATM (up 9.68 percent to Rs30.70) and MDTL (up 9.60 percent to Rs4.34).

On the other hand, MWMP led the decliners, slipping 10 percent to Rs95.77. PIM dropped 7.84 percent to Rs23.05, while SSML fell 6.60 percent to Rs14.01. POWERPS lost 6.16 percent to Rs30.00 and SARC shed 5.80 percent to Rs68.18. GRYL, IDRT, RICL, DSIL and FRCL were also among the losers with declines ranging from 4.16 to 5.53 percent.

KSE-100 index movers

Within the KSE-100 index, several prominent names traded with notable gains. PIBTL jumped 6.77 percent to Rs13.25, while NATF rose 5.03 percent to Rs369.00. PGLC gained 4.19 percent to Rs18.89, MEBL increased 2.68 percent to Rs416.25, and AGL advanced 2.62 percent to Rs73.34. Other gainers included BOP (up 1.88 percent to Rs18.92), HUBC (up 1.44 percent to Rs197.99), SNGP (up 1.43 percent to Rs133.05), and ISL (up 1.61 percent to Rs129.00).

Some heavyweight names, however, were seen in the red. TRG was down 1.82 percent at Rs67.00, JDWS dropped 1.68 percent to Rs875.00, and LCI slipped 1.52 percent to Rs340.10. NPL, AVN, BWCL, and ABL also recorded mild losses, reflecting some profit-taking by investors.

Previous session recap

On Monday, which marked the first trading session of the week, the PSX closed on a positive note at 155,384.5 after gaining 0.61 percent or 944.82 points. The index remained positive throughout the session, touching an intraday high of 155,602.29 after adding 1,162.61 points. The total traded volume of the KSE-100 index stood at 274.67 million shares.

Sector-wise, the index was supported by Fertiliser (adding 300.9 points), Cement (200.54 points), Commercial Banks (136.56 points), Technology and Communication (101.4 points), and Power Generation and Distribution (68.57 points). Major positive contributors included FFC (265.44 points), UBL (92.79 points), HUBC (89.7 points), TRG (74.11 points), and NBP (60.83 points).

On the downside, sectors weighing on the index included Textile Composite (-24.96 points), Real Estate Investment Trust (-22.52), Pharmaceuticals (-15.49), Leather and Tanneries (-14.47), and Paper, Board and Packaging (-5.81). Among individual laggards were HBL (-43.32 points), BAHL (-25.18), TPLRF1 (-22.52), ENGROH (-20.79), and MTL (-17.65).

In the broader market, the All-Share index settled at 95,133.57 with a net gain of 465.42 points. The total market volume clocked in at 857.61 million shares, down from 987.58 million in the previous session, while traded value stood at Rs32.72 billion, marking a decrease of Rs7.19 billion.

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