KARACHI: The Pakistan Stock Exchange (PSX) staged a remarkable recovery on Friday after four consecutive negative sessions, driven by easing tensions between Pakistan and India and anticipation surrounding the upcoming IMF Board meeting.
The benchmark KSE-100 Index gained 3,648 points, or 3.52 percent to close at 107,174.64 points on Friday compared to 103,527 points on Thursday. Overall, some 519 million shares were traded down from 653 million a day earlier.
On Friday, BRIndex100 also increased by 411.38 points or 3.79 percent to settle at 11,267.56 points with a total volume was 451.39 million shares. BRIndex30 closed at 32,236.02 points, up by 1502.16 points or 4.89 percent with a total volume was 309.693 million shares.
Analysts said the KSE 100 Index rebounded on the last trading day of the week and gained to close at 3.5 percent recouping some of the previous day losses, in which KSE 100 Index lost some 6.7 percent. This recovery was on account of optimism on IMF Executive Board meeting scheduled to consider Extended Fund Facility (EFF) program, where market expects smooth approval. Overall decline in cross border hostilities also provided stimulus to investor sentiment, they added.
The total traded value on the ready counter declined to Rs 29 billion compared to Rs 35.44 billion in the previous session. The market capitalization increased by Rs 368 billion to Rs 12.893 trillion. Out of 441 active scrips, 300 closed in positive and 99 in negative while the value of 42 stocks remained unchanged.
Muhammad Rizwan Director Brokerage Chase Securities Pakistan (Pvt.) Limited, after four consecutive days of decline, totaling an 11.2 percent loss, the market staged a remarkable recovery, on hopes of easing tensions between the two sides, fueled by international diplomatic efforts.
Hopes of a potential release of a $1 billion IMF tranche and anticipation of circular debt payment boosted investor confidence in the second half of the session, particularly benefiting Oil and Gas Exploration stocks. Stocks like OGDC, PPL, SNGP, and PSO closed with gains ranging from 4 percent to 6 percent.
WorldCall Telecom was the volume leader with 47 million shares and closed at Rs 1.16 followed by Cnergyico PK that closed at Rs 33.5 with 6.42 million shares. Sui South Gas ranked third with share trading of 29 million shares and it closed at Rs 27.69.
PIA Holding Company LimitedB and Nestle Pakistan Limited the top gainers increasing by Rs 703.20 and Rs 120.31 respectively to close at Rs 7,735.23 and Rs 7,119.15, while Unilever Pakistan Foods Limited and Supernet Technologies Limited were the top losers declining by Rs 107.87 and Rs 64.78 respectively to close at Rs 21,972.88 and Rs 780.00
BR Automobile Assembler Index closed at 20,531.57 points, marking a net gain of 432.79 points or 2.15 percent, with a total turnover of 11.80 million.BR Cement Index ended the session at 8,931.34points, reflecting a rise of 441.80 points or 5.20 percent, and a total turnover of 44.01 million.
BR Commercial Banks Index settled at 31,716.02points, posting an increase of 839.07 points or 2.72 percent, with a total turnover of 43.33 million.BR Power Generation & Distribution Index finished at 18,055.73points, showing a gain of 646.72 points or 3.71 percent, and a total turnover of 24.19 million.
BR Oil & Gas Index closed at 10,293.23points, registering a positive change of 526.39 points or 5.39 percent, with the highest turnover of 83.87 million.BR Technology & Communication Index ended at 4,369.11points, up by 122.24 points or 2.88 percent, with a notable turnover of 75.50 million.
Ahsan Mehanti of Arif Habib Corp said that stocks staged sharp recovery as investor eye de- escalation in Pak -India tensions after US appeal for end to violence and IMF board approval disbursement of $1bn under EFF and additional arrangement for $1.3bn under RSF. He added that SBP policy easing and surge in global crude oil prices played catalyst role in record bullish close at PSX.
Copyright Business Recorder, 2025
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