KARACHI: The Pakistan Stock Exchange (PSX) witnessed third consecutive positive session on Thursday. The benchmark KSE-100 Index increased by 397 points amid strong corporate earnings and positive global equities.
The KSE-100 increased by 396.72 points, or 0.35 per cent, to 113,739.16 points, up from the 113,342.44 points recorded in the last session. The highest index of the day remained at 114,202.14 points, while the lowest level was recorded at 113,525.90 points.
Ahsan Mehanti, an analyst at Arif Habib Corp, said that stocks closed higher at the PSX, driven by strong corporate earnings and upbeat global equities. However, intraday pressure persisted due to weakness in Asian markets, a dismal $420 million current account deficit for January 2025, and surging government bond yields.
Market sentiment remained positive amid speculation ahead of Pakistan’s upcoming IMF review talks next month, the World Bank’s pledge of over $40 billion in investment, and rising global crude oil prices, all of which played a key role in the bullish close.
The KSE-30 index increased by 35.31 points or 0.10 per cent to 35,327.55 points against 35,292.24 points. Traded shares increased by 120 million shares to 787.438 million shares from 667.719 million shares. The trading value rose to Rs33.097 billion from Rs25.734 billion. Market capital expanded to Rs14.028 trillion against Rs13.980 trillion. Of the 453 companies active in the session, 223 closed in green, 176 in red, and 54 remained unchanged.
Analyst Naveed Nadeem at Topline Securities said the KSE-100 index showed a positive trend, bolstered by strong results, and concluded the day on a high note. The highest increase was recorded in Hoechst Pakistan Limited, which rose by Rs125.03 to Rs2,968.05 per share, followed by Lucky Core Industries Limited, which increased by Rs58.24 to Rs1,248.04 per share. A significant decline was noted in Unilever Pakistan Foods Limited, which fell by Rs272.51 to Rs23,115 per share; Abbott Laboratories (Pakistan) Limited followed it, which closed lower by Rs124.62 to Rs1,121.61 per share.
Brokerage Arif Habib Ltd stated the KSE-100 index continued its upward momentum, printing another 114,000 handle, driven by strong performance in the cement sector. The index is now up 1.5 percent week-on-week, heading into the final trading session of the week.
CHCC (+9.96 per cent), FCCL (+7.05 per cent), and DGKC (+8.11 per cent) contributed the most to index gains. On the flip side, ABOT (-10 per cent), HUBC (-1.43 per cent), and BAHL (-1.27 per cent) were the biggest drags on the market.
Near-term support is seen at the previous week's high of 113,500, with the next target set at 116,000. Pak Int. Bulk remained the volume leader with 91.476 million shares, which closed higher by 58 paisas to Rs8.69 per share. Fauji Cement, with 73.707 million shares, followed it, which closed higher by Rs2.86 to Rs43.41 per share.
Other significant turnover stocks included K-Electric Ltd., Maple Leaf, B.O. Punjab, D.G.K. Cement, WorldCall Telecom, Power Cement, Lotte Chemical and Aisha Steel Mill. In the futures market, 320 companies recorded trading, 187 of which increased, 130 decreased and 3 remained unchanged.