KARACHI: Stocks showed a positive trend on Monday as the Pakistani Rupee (PKR) continued to appreciate against the US Dollar, boosting investor sentiment.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 83 points, closing at 41,212 points compared to last Friday’s closing of 41,129 points.
Analysts at Arif Habib Limited highlighted that the PSX witnessed a bullish session as investors accumulated high-dividend-yield stocks. The continued strengthening of the Pakistani Rupee against the US Dollar also played a significant role in maintaining positive momentum in the market. Stocks across various sectors contributed to this upward trend, with investors actively seeking opportunities in power, technology, and chemical industries.
The KSE-100 index opened in the green zone and sustained its momentum throughout most of the trading session. The market reached an intraday high of 275.06 points following an impressive payout announcement by HUB Power Company, which further strengthened investor confidence. This development led to a surge in stock buying, particularly in energy-related sectors.
Several sectors contributed to the stock market’s performance, including Power (+136.2 points), Technology (+30.9 points), Oil Marketing Companies (OMCs) (+19.9 points), Vanaspati & Allied (+10.8 points), and Chemical (+10.4 points). These sectors played a crucial role in sustaining the market’s upward trajectory.
Despite the positive performance, trading volumes saw a slight decline, dropping from 205.7 million shares to 185.4 million shares, reflecting a 9.9 percent decrease on a day-on-day basis. The average traded value also fell by 1.2 percent, amounting to US$ 41.3 million compared to the previous US$ 41.8 million. However, stocks remained in focus as investors maintained interest in key companies driving market growth.
Stocks that significantly contributed to the overall market movement included HUBC, TRG, HBL, UNITY, and HASCOL. These stocks remained at the center of investor activity, reflecting the ongoing confidence in their performance and future potential.
As stocks continue to show resilience, analysts anticipate further movement in response to economic indicators and currency stability. Investors are advised to closely monitor stock trends to make informed financial decisions.