The Pakistan stock market witnessed a positive session on Tuesday, with the benchmark KSE-100 index gaining 175 points. The index closed at 32,254 points, up from the previous close of 32,079 points, driven by buying interest in several key sectors.
According to analysts at Arif Habib Limited, the stock market performed well throughout the day, reaching an intraday high of 212 points before closing with a net gain of 169 points. The cement sector played a crucial role in driving upward momentum at the stock market, thanks to favorable price movements in the northern region and government relaxations for the construction industry. These developments helped attract investor attention to cement stocks.
International crude oil prices experienced a decline overnight, which put selling pressure on Exploration and Production (E&P) stocks. However, Refinery and Oil Marketing Companies (OMCs) managed to avoid the downward trend. Despite some laggards in E&P and Fertilizer sectors, the overall market sentiment remained positive.
The trading volume at the stock market saw a significant improvement during the session, with the total number of shares traded rising from 166 million to 180.5 million, reflecting a 9 percent day-on-day increase. Additionally, the average traded value surged by 18 percent, reaching $31.9 million compared to $27.1 million in the previous session.
Cement stocks led the volume charts, contributing 37.8 million shares, largely driven by Fauji Cement Company Limited (FCCL) and Maple Leaf Cement Factory (MLCF), which traded 14.7 million and 11.5 million shares, respectively. Power sector stocks also saw notable activity, with K-Electric Limited (KEL) contributing 22.9 million shares to the total volumes. The Vanaspati sector, primarily represented by Unity Foods Limited, also witnessed heavy trading, with 19.4 million shares changing hands.
Sector-wise, the cement sector added 66 points to the index, followed by the power sector with 35 points and banks with 32 points. In contrast, the E&P sector dragged the index down by 20 points, while the tobacco sector subtracted 11 points.
Notable stocks that contributed positively to the market’s performance included Lucky Cement (LUCK) with a gain of 20 points, Hub Power Company (HUBC) with 19 points, FCCL with 16 points, KEL with 13 points, and Habib Bank Limited (HBL) with 12 points.
On the downside, Pakistan Oilfields Limited (POL) lost 16 points, Philip Morris Pakistan (PMPK) dropped 11 points, Fauji Fertilizer Company (FFC) shed 9 points, Fatima Fertilizer (FATIMA) fell by 8 points, and Pakistan Petroleum Limited (PPL) was down by 4 points.