KSE-100 up 1,278 points as geopolitical tensions dwindle

KARACHI: The Pakistan Stock Exchange (PSX) witnessed the bullish momentum for the third consecutive day on Tuesday. The benchmark KSE-100 index increased by 1,278 points as geopolitical tensions subsided.

The benchmark KSE-100 index surged by 1,278.16 points, or 1.09 per cent, to 118,575.89 points, up from 117,297.73 points recorded in the last session. The highest index of the day remained at 120,067.12 points, while the lowest level was recorded at 116,859.93 points.

Analyst Ahsan Mehanti at Arif Habib Ltd said, “Stocks closed higher as investors weigh Pakistan-India ceasefire talks fostering stability and the finance minister’s assurance on a thin fiscal impact of the conflict.”

He said that rupee stability on easing geopolitical tensions and the IMF loan approval, upbeat global equities and a surge in global crude oil prices played a catalystic role in the bullish close at the PSX.

The KSE-30 index increased by 462.85 points or 1.29 per cent to 36,301.66 points from 35,838.8 points. Traded shares dropped by 48 million shares to 684.294 million shares from 732.877 million shares. The trading value increased to Rs52.586 billion from Rs30.382 billion. Market capital expanded to Rs14.205 trillion against Rs14.016 trillion. Of the 462 companies active in the session, 221 closed in green, 194 in red, and 47 remained unchanged.

Naveed Nadee, an analyst at Topline Securities, said the bullish momentum from the previous session carried forward, fuelled by robust institutional buying, particularly from local mutual funds, as indicated by NCCPL data.

The key drivers of the rally included heavyweight stocks such as PPL, OGDC, LUCK, PSO, and MARI, which collectively contributed 1,177 points to the KSE-100 index’s upward trajectory.

The highest increase was recorded in PIA Holding Company Limited B, which rose by Rs950.88 to Rs9,359.63 per share, followed by Lucky Core Industries Limited, which increased by Rs97.35 to Rs1,557.37 per share. A significant decline was noted in Rafhan Maize Products Company Limited, which fell by Rs154.22 to Rs8,911 per share; Nestle Pakistan Limited followed it, which closed lower by Rs90.58 to Rs7,074.09 per share.

Analyst Muhammad Hasan Ather at JS Global said the bullish sentiment follows signs of de-escalation in India-Pakistan tensions, which previously weighed on the market. The IMF’s financial support, including a fresh $1.4 billion under resilience and sustainability facility, has boosted investor confidence. “Going forward, stability in geopolitical conditions and continued structural reforms will be key to sustaining momentum, with traders eyeing a break above record levels,” he said.

WorldCall Telecom remained the volume leader with 41.734 million shares, which closed lower by 6 paisas to Rs1.26 per share. Maple Leaf, with 41.052 million shares, followed it, which closed higher by Rs6.27 to Rs75.92 per share.

Other significant turnover stocks included Sui South Gas, Oil & Gas Dev XD, BO Punjab, Cnergyico PK, K-Electric Ltd, At-Tahur Ltd, Fauji Cement, and DGK Cement.In the futures market, 318 companies recorded trading, 195 of which increased and 123 decreased.