Stocks end flat amid bearish trend in global equities

KARACHI: The Pakistan Stock Exchange (PSX) ended flat with a positive closing on Tuesday amid a bearish trend in global equities and falling crude oil prices.

The benchmark KSE-100 index increased by 46.97 points, or 0.04 per cent, to 118,430.35 points, up from the 118,383.38 points recorded in the last session. The highest index of the day remained at 119,217.19 points, while the lowest level was recorded at 118,161.68 points.

Analyst Ahsan Mehanti at Arif Habib Ltd said, “Stocks closed flat in late session pressure on the bearish trend in global equities, a weak rupee and falling global crude oil prices.”However, strong financial results supported the index.

He said that reports of expected SBP policy easing, government resolve over US tariff issues, and the release of the IMF support tranche next month played a catalyst role in the positive close at the PSX.

The KSE-30 index increased by 8.06 points or 0.02 per cent to 36,403.20 points from 36,395.14 points. Traded shares increased by 68 million shares to 740.872 million shares from 672.443 million shares. The trading value dropped to Rs30.516 billion from Rs36.424 billion. Market capital narrowed to Rs14.444 trillion against Rs14.464 trillion. Of the 451 companies active in the session, 214 closed in green, 196 in red and 41 remained unchanged.

According to a Topline Securities review report, the Pakistan Stock Exchange closed at index 118,430, posting a modest gain of 0.04 per cent. Investor sentiment was buoyed by corporate results announced during the session, although overall activity remained subdued due to cautious trends in international markets.

The index’s performance was largely supported by stocks such as FFC, ENGROH, HMB, AGP, and ATLH, which collectively contributed 733 points.

The highest increase was recorded in PIA Holding Company Limited B, which rose by Rs224.80 to Rs2,472.79 per share, followed by Hoechst Pakistan Limited, which increased by Rs146.20 to Rs3,158.5 per share. A significant decline was noted in Pakistan Tobacco Company Limited, which fell by Rs47.93 to Rs1,214.17 per share; Supernet Technologies Limited followed it, which closed lower by Rs44 to Rs748.24 per share.

BO Punjab remained the volume leader with 116.690 million shares, which closed lower by 97 paisas to Rs10.45 per share. Power Cement, with 67.921 million shares, followed it, which closed higher by 72 paisas to Rs14.26 per share.

Other significant turnover stocks included Pak Int. Bulk, Pak Elektron, Sui South Gas, Maple Leaf, Secure Logistics Gro, The Organic Meat, Fauji Foods Ltd and Quice Food.In the futures market, 313 companies recorded trading, 145 of which increased, 166 decreased and 2 remained unchanged.