PSX posts sharp recovery
KARACHI: The Pakistan Stock Exchange staged a sharp recovery on the final trading day of the week, following diplomatic interventions by the United States and the United Nations urging Pakistan and India to de-escalate.
The benchmark KSE-100 Index gained 2,787.36 points, or 2.50 percent, closing at 114,114points on Friday up from 111,326.58points on Thursday.
However, the daily volume at the ready counter declined significantly from 492 million shares in the previous session to 372 million shares.
On Friday, BRIndex100 opened at 11,775.43 points closed at 12,144.81 points, which was 369.38 points or 3.14 percent higher than previous close. Total volume at BRIndex was 310.562 million shares. BRIndex30 increased by 870.34 points or 2.52 percent to settle at 35,340.87 points with a total volume of 193.967 million shares.
Similarly, the total traded value on the ready counter also decreased to Rs 23 billion compared to Rs 31 billion in the previous session. The market capitalization declined Rs 288 billion to Rs 13.808 trillion. Out of 445 active scrips, 331 closed in positive and 63 in negative while the value of 51 stocks remained unchanged.
Ahsan Mehanti of Arif Habib Corp said that stocks showed sharp recovery after US, UN urge Pakistan and India to defuse tensions. Reports of 0.3pc YoY CPI inflation for Feb'25 likely to further ease SBP policy and expected approval on disbursement of IMF tranche this month played catalyst role in record bullish close at PSX.
Sui South Gas was the volume leader with 29 million shares and closed at Rs 40.25 followed by Cnergyico PK closed at Rs 7.11 with 27 million shares. B.O. Punjab ranked third with share trading of 21 million shares and it closed at Rs 9.69.
PIA Holding Company LimitedB and Hoechst Pakistan Limited the top gainers increasing by Rs 436.63 and Rs 223.37 respectively to close at Rs 4,802.96 and Rs 3,173.37, while Unilever Pakistan Foods Limited and Pakistan Tobacco Company Limited were the top losers declining by Rs 461.63 and Rs 30.05 respectively to close at Rs 23,008.12 and Rs 1,162.34.
Analysts at Topline Securities said that KSE 100 Index rebounded today after remaining under pressure for two consecutive trading session. KSE 100 Index settled at 114,114 level (up by 2.50%). This recovery in market can be attributed to statements by US Administration indicating that they are working to ensure that tensions between India and Pakistan don`t escalate into a broader regional conflict.
Top positive contribution to the index came from UBL, EFERT, HUBC, LUCK, MEBL and HBL, as they cumulatively contributed +1,238 points to the index
Traded value wise LUCK (Rs1.53bn), SNGP (Rs1.39bn), DGKC (Rs1.26bn), MARI (Rs1.02bn) and UBL (Rs978mn) dominated the trading activity.
BR Automobile Assembler Index ended the session at 22,057.83 points, recording a net gain of 401.44 points or 1.85 percent, with a total turnover of 4.52 million. The BR Cement Index settled at 9,406.62points, rising 328.10 points or 3.61 percent and a turnover of 55.10 million.
The BR Commercial Banks Index advanced to 33,679points, climbing 1,407.77 points or 4.36 percent, with a turnover of 46.39 million. The BR Power Generation and Distribution Index finished at 19,275.48points, gaining 520.38 points or 2.77 percent increase, with a total turnover of 23.77 million.
The BR Oil and Gas Index moved up to 11,069.58points, showing a positive change of 207.09 pointsor 1.91 percent, with a turnover of 59.43 million. The BR Technology and Communication Index reached 4,839.77points, up 72.08 points or 1.51 percent, with a turnover of 31.83 million.
Copyright Business Recorder, 2025
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