The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) demonstrated resilience by gaining 270 points on Tuesday, closing at 40,596 points compared to the previous day’s 40,326 points.
The positive momentum occurred amidst selling pressure in blue-chip stocks, according to analysts at Arif Habib Limited.
Market dynamics revealed a fluctuation of approximately 370 points during the trading session, with the index experiencing both highs and lows—reaching a maximum increase of 311 points and a minimum decline of 58 points. Despite profit booking by institutional investors in recent sessions, retail investors remained cautious, and the market witnessed selling pressure, particularly in blue-chip stocks outside the Cement Sector.
The Textile sector, led by ANL, dominated the trading volumes, followed closely by the Cement Sector, featuring companies such as DGKC, MLCF, FCCL, and LUCK. Cement emerged as a notable sector, while Banking, Autos, and Oil Marketing Companies (OMCs) mainly traded in the red. However, the Exploration and Production (E&P) sector reversed losses incurred in previous sessions.
Key sectors contributing to the day’s performance included Cement (+112 points), E&P (+108 points), Fertilizer (+58 points), Power (+32 points), Technology (+15 points), Tobacco (-33 points), Autos (-22 points), and Banks (-22 points).
The trading volumes experienced an uptick, rising from 134 million shares to 165 million shares, indicating a 23 percent day-on-day increase. The average traded value also increased by 4 percent, reaching US$47 million compared to the previous day’s US$45 million.
Several stocks played a significant role in shaping the day’s trading activity. Notably, KEL, UNITY, DGKC, PAEL, and MLCF collectively formed 25 percent of the total volumes.
Stocks that contributed positively to the index included LUCK (+54 points), OGDC (+50 points), POL (+30 points), FFC (+21 points), and DGKC (+21 points). Conversely, stocks that had a negative impact included HBL (-33 points), PAKT (-33 points), MTL (-15 points), PSMC (-8 points), and BAHL (-7 points).
The market’s ability to gain ground amid selling pressure in blue-chip stocks reflects the resilience of investors and the overall positive sentiment. As economic and geopolitical factors continue to influence market dynamics, stakeholders will closely monitor these trends to gauge the health and stability of the Pakistan Stock Exchange.
