KSE-100 surges over 1,300 points as PSX opens week on bullish note

KARACHI: The Pakistan Stock Exchange (PSX) began the week on a positive note, with the benchmark KSE-100 index showing strong upward momentum during early trading hours on Monday. By around 9:32 AM, the index stood at 132,689.15 points, reflecting a gain of 740.09 points. During this time, the trading volume was recorded at 1.82 million shares.

Momentum continued to build, and within the first 30 minutes of trading, the market extended its gains. By approximately 9:59 AM, the KSE-100 index had surged by 1,207 points to reach 133,156.64 points, with the volume increasing significantly to over 40.6 million shares. 

Among the top advancers during the early session were First Capital Equities Limited (FCEL), which rose by 15.48 per cent to Rs4.85, and Trust Modaraba Fund (TSMF), which climbed 10.70 per cent to Rs10.35.  

Other notable gainers included Ghandhara Capital (GCWL) up 10.03 per cent to Rs13.05, Fateh Textile Mills (FTMM) up 10.01 per cent to Rs16.05, and High Q Services (HWQS), which saw a similar 10.01 per cent rise to Rs22.65. Beco Steel (BECO), Indus Dyeing and Manufacturing (IDSM), Din Textile (DINT), Pakistan Industrial and Agricultural Holdings Ltd B (PIAHCLB), and Kohinoor Mills (KML) also each posted 10.00 per cent gains in early trading. 

Conversely, some stocks came under selling pressure. JS Investments (JSIL) declined by 9.63 per cent to Rs25.15, while Pak Investment Management (PIM) dropped 8.55 per cent to Rs20.00. Inter State Oil Ltd (ISIL) fell 8.51 per cent to Rs1,701.02, and Kohinoor Chemical (KCL) slipped 8.31 per cent to Rs144.00.  

Other key decliners included Leather Up Ltd (LEUL), Bannu Woollen Mills (BNL), Clover Pakistan (CLVL), Pak Leather (PAKL), B.F. Modaraba (BFMOD), and D.M. Textile Mills (DMTM), with losses ranging between 4.76 and 7.31 per cent. 

As of 10:14 AM on July 7, the KSE-100 index had shown a 66.13 per cent increase over the past one year. On a year-to-date (YTD) basis, the index had risen by 15.75 per cent. In terms of its 52-week performance, the index had traded between a low of 76,943.24 points and a high of 133,266.38 points. 

The market rally continued to hold firm, and by around 10:15 AM, the benchmark index had climbed further to 133,266.37 points, registering a total gain of 1,317.31 points since the market opened. The volume by this time had risen to 55.77 million shares. 

On the previous trading day, Friday, the KSE-100 index had ended the session at 131,949.06, gaining 1,262.41 points, or 0.97 per cent. The index remained in positive territory throughout the day, reaching an intraday high of 132,129.60 (up by 1,442.95 points) and a low of 130,716.10 (still a gain of 29.45 points). The total volume for the session stood at 198.95 million shares. 

Out of the 100 companies listed on the index, 60 closed in the green, 37 ended in the red, while 3 remained unchanged. The top gainers on Friday included Adamjee Insurance (AICL), which surged 9.08 per cent, United Bank Limited (UBL) up 5.70 per cent, Habib Bank Limited (HBL) rising 5.55 per cent, Unity Foods (UNITY) gaining 5.49 per cent, and Systems Limited (SYS), which advanced by 4.68 per cent.  

Meanwhile, the biggest losers of the day were Pakistan Goldleaf Company (PGLC), down 5.49 per cent, Bannu Woollen Mills (BNWM) losing 4.67 per cent, Mughal Iron & Steel (MUGHAL) down 2.31 per cent, Ghani Glass (GHGL) shedding 2.17 per cent, and Fauji Fertilizer Company (FFC), which dropped 2.15 per cent.

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