KARACHI: The Pakistan Stock Exchange (PSX) witnessed strong recovery on Tuesday after four consecutive sessions. The benchmark KSE-100 index increased by 757 points amid lower inflation numbers.
The KSE-100 increased by 756.91 points, or 0.68 per cent, to 112,743.80 points, up from the 111,986.89 points recorded in the last session. The highest index of the day remained at 112,877.02 points, while the lowest level was recorded at 111,717.17 points.
Ahsan Mehanti, an analyst at Arif Habib Corp, said, “Stocks showed recovery as investors weigh over a decade low CPI inflation at 1.5 per cent [year-on-year] (YoY) in February 2025,” leading to favourable outcomes with the IMF and a more relaxed monetary policy from the SBP.
He said strong earnings outlook for blue chip banking, fertiliser and oil scrips, and government deliberations over privatisation of SOEs, played a catalyst role in the bullish close at the PSX.
The KSE-30 index increased by 291.61 points or 0.84 per cent to 34,967.58 points against 34,675.98 points.
Traded shares dropped by two million shares to 206.851 million shares against 208.881 million shares. The trading value decreased to Rs11.337 billion from Rs11.881 billion. Market capital expanded to Rs13.926 trillion from Rs13.840 trillion. Of the 429 companies active in the session, 221 closed in green, 150 in red, and 58 remained unchanged.
Analyst Maaz Mulla at Topline Securities said that after enduring four consecutive bearish sessions, the bulls made a strong comeback, driving the benchmark index to an intraday high of 890 points and a low of 269 points. By the closing bell, the index settled at 112,743 points, gaining 756 points (0.68 per cent). He said that investor sentiment improved significantly, fuelled by positive economic data.
The market’s recovery was led by buying interest in key sectors, as investors capitalized on recent dips. UBL, MARI, FFC, SEARL, and HUBC were among the top contributors, collectively adding 400 points to the index. Additionally, the pharmaceutical sector attracted strong investor interest, with SEARL, BFBIO, and CPHL closing higher than their previous day’s levels.
The highest increase was recorded in Unilever Pakistan Foods Limited, which rose by Rs61.32 to Rs23,066.34 per share, followed by Sapphire Textile Mills Limited, which increased by Rs28.82 to Rs1,200 per share. A significant decline was noted in Mehmood Textile Mills Limited, which fell by Rs42.52 to Rs385.73 per share; Reliance Cotton Spinning Mills Limited followed it, which closed lower by Rs33.41 to Rs483.67 per share.
Brokerage Arif Habib Ltd stated that the PSX saw a recovery on Tuesday following a series of down sessions, with the KSE-100 index gaining momentum.
Analysts anticipate continued upward momentum for the remainder of the week, with a potential push toward the 115,000 level.
WorldCall Telecom remained the volume leader with 12.563 million shares, which closed lower by one paisa to Rs1.40 per share. Citi Pharma Ltd, with 12.282 million shares, followed it, which closed higher by Rs7.35 at Rs92.93 per share.
Other significant turnover stocks included Pak Int. Bulk, At-Tahur Ltd., Fauji Cement, BO Punjab, K-Electric Ltd., The Searle Company, Cnergyico PK and Soneri Bank Ltd.
In the futures market, 330 companies recorded trading, 216 of which increased, 98 decreased and 16 remained unchanged.