KARACHI: The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Tuesday, ahead of the federal budget, which was announced in the evening. The benchmark KSE-100 index increased by 383 points.
The KSE-100 increased by 383.44 points, or 0.32 per cent, to 122,024.44 points, up from 121,641 points recorded in the last session. The highest index of the day remained at 122,611.53 points, while the lowest level was recorded at 121,589.9 points.
Analyst Ahsan Mehanti at Arif Habib Corp said that stocks reached to an all-time high led by blue-chip scrips as investors weighed Rs17.6 trillion record budget outlay with government approval on PSDP at Rs800 billion supporting industrials in the federal budget FY26.
He said that surging global crude oil prices, IMF approval on banking loans to resolve over Rs2 trillion gas circular debt crises and speculations over rationalisation of import tariff in the federal budget played a catalytic role in the bullish close at the PSX.
The KSE-30 index increased by 74.7 points or 0.2 per cent to 36,902.59 points from 36,827.89 points. Traded shares dropped by 272 million shares to 592.952 million shares from 854.617 million shares. The trading value decreased to Rs21.827 billion from Rs25.793 billion. Market capital expanded to Rs14.768 trillion against Rs14.728 trillion. Of the 473 companies active in the session, 230 closed in green, 200 in red and 43 remained unchanged.
Naveed Nadeem, an analyst at Topline Securities, said the stock market witnessed a range-bound session, with the index fluctuating within a narrow band amid uncertainty surrounding the budget announcement.
The positive momentum was largely supported by strong performances from FFC, PKGP, BAHL, MEBL and BAFL, which collectively contributed 499 points to the index.
The highest increase was recorded in Sapphire Fibres Limited, which rose by Rs96.67 to Rs1,152.79 per share, followed by Sapphire Textile Mills Limited, which increased by Rs43.08 to Rs1,143.08 per share. A significant decline was noted in PIA Holding Company Limited B, which fell by Rs2,879 to Rs25,910.98 per share; Khyber Textile Mills Limited followed it, which closed lower by Rs273.52 to Rs2,461.65 per share.
Mubashir Anis Naviwala, an analyst at JS Global, said PSX soared to new all-time high, showing strong investor confidence on budget day. Bullish momentum was driven by aggressive buying in banking, fertilizer, and cement stocks. “Investors are advised to buy on dips in key sectors to ride the bullish wave. Sentiment remains positive with expectations of policy support in the upcoming budget,” he said.
Cnergyico PK remained the volume leader with 61.375 million shares, which closed higher by 10 paisas to Rs8.03 per share. K-Electric Ltd, with 59.081 million shares, followed it, which closed lower by 21 paisas to Rs5.62 per share.
Other significant turnover stocks included Dewan Cement, Fauji Foods Ltd, PIA Holding Company, BO Punjab, Invest Bank, WorldCall Telecom, Pak Refinery and Aisha Steel Mill.
In the futures market, 314 companies recorded trading, 169 of which increased, 141 decreased and 4 remained unchanged.