KARACHI: The Pakistan Stock Exchange (PSX) staged an impressive comeback on Thursday as bullish sentiment returned to the bourse. Investor confidence was visibly restored, driven by optimism over the upcoming corporate results season with falling longer-term yields of government bonds.
The benchmark KSE-100 Index gained a robust 1205 points or 0.91 percent to settle at 133,782.35 points, up from the previous day’s 132,576.99 points. During the session, the index moved between the high of 133,902 and low of 132,706 points.
The BRIndex100 gained 112.57 points or 0.84 percent to close at 13,574.18, with a total volume of 705.48 million shares, while the BRIndex30 rose by 135.63 points or 0.34 percent, settling at 39,666.72 points on a turnover of 381.61 million shares.
Topline Securities, in its post-market commentary, remarked that after a two-day breather, the bulls roared back to life at the Pakistan Stock Exchange. The brokerage noted that the market’s rally was largely driven by expectations of robust quarterly earnings results, expected to commence from Friday, prompting investors to reposition their portfolios across key index-heavy sectors.
Trading activity remained vibrant as total market turnover surged to 941 million shares, an increase from 906 million shares recorded a day earlier. The traded value followed suit, jumping to Rs 36.03 billion from Rs 30.53 billion in the previous session, indicating active participation from both local and foreign investors.
Bank of Punjab led the volumes chart with a staggering 155.38 million shares changing hands, closing the day at Rs 13. Strong participation was also witnessed in Kohinoor Spinning, which closed at Rs 6.89 after trading 55.10 million shares, followed by Hascol Petroleum at Rs 11.81 with 33.30 million shares.
Market capitalization also posted a significant rise, climbing by Rs 122.55 billion to reach Rs 16.210 trillion, up from Rs 16.088 trillion in the previous session, a clear reflection of the market’s bullish undertone.
The market breadth further reinforced bullish sentiment. Out of 479 active companies in the ready market, 260 registered gains, 195 closed lower while 24 remained unchanged.
The BR Automobile Assembler Index finished the session at 22,008.58 points, marking a strong gain of 411.85 points, or 1.91 percent, with a total turnover of 17.09 million shares.
The BR Cement Index also closed on a positive note, adding 49.75 points, or 0.47 percent, to settle at 10,737.49, as 22.54 million shares exchanged hands.
Meanwhile, the BR Commercial Banks Index led the sectoral gains, surging by 836.6 points, or 2.19 percent, to finish at 39,004.27, with a hefty turnover of 196.14 million shares.
In the power sector, the BR Power Generation and Distribution Index edged up by 67.86 points, or 0.32 percent, closing at 21,066.72 points, with 19.10 million shares traded during the day.
On the other hand, the BR Oil and Gas Index ended in the red, shedding 48.59 points, or 0.4 percent, to close at 12,176.20 points, with a turnover of 52.59 million shares.
The BR Technology & Communication Index posted modest gains, adding 12.53 points, or 0.41 percent, to settle at 3,072.50 points, with a healthy turnover of 85.45 million shares.
Ahsan Mehanti, Director at Arif Habib Corporation, attributed the market’s record-breaking close to multiple positive triggers. He said stocks closed at a new all-time high amid speculation surrounding the earnings season and falling longer-term yields of government bonds, which hint at potential monetary policy easing by the State Bank of Pakistan.
He added that record-high remittances of $38.3 billion, a 4.67 percent year-on-year surge in exports for FY25, and expectations of relief in industrial power tariffs played a catalytic role in pushing the PSX to fresh historic highs.
Copyright Business Recorder, 2025
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