Karachi: The Pakistan stock market recorded a significant gain of 465 points on Thursday, driven by robust buying activities and positive investor sentiment. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 35,403 points, up from the previous close of 34,660 points.
The surge at Pakistan stock market was supported by notable contributions from key sectors, including Fertilizer (+110 points), Banks (+86 points), Cement (+72 points), Power (+54 points), and Oil & Gas Marketing Companies (O&GMCs) (+30 points). These sectors collectively played a crucial role in bolstering stock market performance during the session.
Analysts at Arif Habib Limited highlighted that the Pakistan stock market began on a negative note but quickly shifted as buying activities gained momentum. The stocks of Cement and Chemicals sectors were at the forefront, with early trading in pharmaceutical stocks also showing strong performance by hitting upper circuits. The Fertilizer and Chemicals sectors followed a similar trend, reflecting growing investor interest.
ENGRO emerged as a standout performer, maintaining prominence throughout the session. Despite concerns over an increase in the rupee-to-USD parity, which caused temporary unease among investors, overall buying activity in stocks remained dominant. By the close of the session, several Cement sector stocks hit their upper circuit, underscoring the sector’s bullish trend.
The volumes of Pakistan stock market also saw an uptick, rising by 2% to reach 154.3 million shares compared to the previous day’s 150.9 million shares. The average traded value experienced a notable increase of 14%, reaching USD 36.8 million against USD 32.5 million the day prior.
Key contributors to trading volumes included Cement (29.5 million shares), Chemicals (17.7 million shares), and Technology (17 million shares). Among individual stocks, MLCF led the volume chart with 12.5 million shares, followed by BOP (10.4 million shares) and TRG (9.4 million shares).
Positive contributors to the index included HUBC (+43 points), ENGRO (+39 points), EFERT (+37 points), LUCK (+32 points), and MCB (+22 points). Conversely, IGIHL (-7 points), PSMC (-6 points), and JLICL (-5 points) contributed negatively.
The strong performance underscores the resilience of Pakistan stock market as investors continue to explore opportunities across diverse sectors.