PSX: KSE-100 ends volatile trading session on a positive note

The Pakistan Stock Exchange (PSX) witnessed a volatile trading session, with the KSE-100 index moving within a relatively narrow range before settling with a gain of over 250 points on Monday.

At open, the benchmark index initially climbed to an intraday high of 171,732.62, before coming under selling pressure and falling towards 170,900, marking the session’s low of 170,902.75.

It subsequently recovered, with the index trading around 171,300–171,400 near midday before slipping again.

The benchmark index staged another recovery in the afternoon, briefly moving back towards 171,400, but eased in the final stretch.

At close, the KSE-100 settled at 171,153.16, up 268.58 points or 0.16%.

“The bulls staged a modest comeback at the local bourse today, as easing international oil prices and signs of potential US-Iran de-escalation provided a much-needed breather to investor sentiment,” said Topline Securities in its post-market commentary.

The cooling oil prices offered relief to investors, easing concerns over inflationary pressures, the external account and overall macro stability, said the brokerage house. “Meanwhile, ongoing diplomatic efforts to de-escalate tensions between the US and Iran further helped improve risk appetite.”

On the index front, LUCK, ATRL, FFC, MARI, and EFERT remained the major contributors, collectively adding approximately 254 points to the KSE-100 Index, said Topline.

Last week, the PSX saw pronounced volatility, with the benchmark index trading within a narrow range despite substantial swings in investor sentiment.

Persistent geopolitical friction between the United States and Iran, renewed concerns over regional energy supplies, and a sharp rise in international and domestic oil prices kept investors cautious, limiting equity upside as the benchmark KSE-100 Index edged up only 372.73 points, or 0.22% week-on-week, to 170,884.59 points.

Internationally, share markets edged higher in Asia on Monday as AI’s insatiable demand for data buoyed chipmakers, and oil eased on reports that more oil was finding its way ​out of the Middle East than previously thought, despite the ongoing conflict in the Gulf.

Japan’s Nikkei was shut, but futures rose 0.5%, while South Korea’s tech-heavy index gained 1.5%. MSCI’s broadest index of Asia-Pacific shares ​outside Japan rose 0.8%, and Chinese blue chips gained 0.6%.

S&P 500 futures firmed 0.4%, while Nasdaq futures added 0.6%. In Europe, EUROSTOXX 50 futures and DAX ​futures both rose 0.4%, while FTSE futures firmed 0.2%.

Bond markets remained tense after a vicious selloff saw US 2-year yields jump 36 ⁠basis points in the past two weeks to heights not seen since mid-2024 at 4.7604%.

Hawkish guidance from the Federal Reserve last week has futures wagering on a 56% chance ​it will hike rates again in October, with a move by year-end considered a done deal.

Meanwhile, the Pakistani rupee extended its marginal gains against the US dollar, appreciating 0.01% in the interbank market on Monday. The local unit closed the day at 277.22, a gain of Re0.03 against the greenback.

Volume on the all-share index increased to 692.88 million from 576.26 million recorded in the previous close.

However, the value of shares declined to Rs20.10 billion from Rs22.41 billion in the previous session.

Tasdeeq Information was the volume leader with 119.63 million shares, followed by F. Nat.Equities with 73.71 million shares, and Media Times Ltd with 70.05 million shares.

Shares of 494 companies were traded on Monday, of which 238 registered an increase, 213 recorded a fall, and 43 remained unchanged.