PSX continues upward momentum after historic rally

KARACHI: The Pakistan Stock Exchange (PSX) opened in the green on Tuesday, continuing the bullish momentum from the previous day. The benchmark KSE-100 index rose by 2,769.39 points at the opening bell, reaching 120,067.12 at 9:30 AM. Trading volume at the time stood at 8,097,696 shares.

While Tuesday’s gains were significant, they were comparatively modest when viewed against Monday’s record-breaking rally. As of the current level, the KSE-100 index is up 59.68 per cent on a year-on-year basis and has risen by 2.36 per cent in year-to-date terms. Over the past 52 weeks, the index has traded between a low of 71,781.96 and a high of 120,796.67.

Among the KSE-100 companies, some stocks remained under pressure. First Al-Noor Modaraba dropped by 30.63 per cent or Rs0.98 to Rs2.22. Khalid Siraj Textile Mills Limited declined by 12.99 per cent or Rs1 to Rs6.70, while First Equity Modaraba fell by 10.49 per cent or Rs0.34 to Rs2.90.

On the other hand, several stocks extended their gains. Al Shaheer Corporation Limited rose by 14.97 per cent or Rs0.88 to Rs6.76. First Paramount Modaraba increased by 14.14 per cent or Rs0.97 to Rs7.83, while Gulshan Spinning Mills Limited gained 1.48 per cent or Rs0.35 to Rs3.40.

Previous session highlights

In a historic session on Monday, the KSE-100 index surged by 10,123.10 points, or 9.45 per cent, to close at 117,297.73 — one of the largest single-day gains in PSX history.

The extraordinary rally was fuelled by the International Monetary Fund’s approval of the next loan tranche, coupled with news of a regional ceasefire, both of which boosted investor confidence and led to robust buying across sectors.

The index remained in positive territory throughout the day, with an intraday high of 117,327.78 — reflecting a remarkable 10,153.15-point increase at its peak. Total trading volume for the KSE-100 stood at 345.35 million shares.

In the broader market, the All-Share Index closed at 72,310.03, posting a net gain of 5,796.56 points or 8.71 per cent.

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