Bulls maintain control
The KSE-100 Index advanced by 440 points or 0.32 percent to settle at 136,380 points as compare to its previous close of 135,939.87 points. During the trading session, the index hit a high of 137,232 points and dipped to a low of 135,543 points, the overall session reflected a tone of consolidation.
On Wednesday, BRIndex100 closed at 13,864 points, gaining 84.65 points or 0.61 percent with a total volume of 520.6 million shares, while BRIndex30 ended at 39,499.06 points, losing 119.68 points or 0.3 percent with a total volume of 309.8 million shares.
According to Topline Securities, the session was marked by consolidation and the gains were underpinned by strength in select index movers. Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), Engro Fertilizers (EFERT), Pakistan State Oil (PSEL), and Attock Refinery (ATRL) collectively contributed 1,160 points to the index. On the downside, major banking stocks, including United Bank (UBL), Meezan Bank (MEBL), and MCB Bank, cumulatively shaved off 443 points due to profit-taking after recent advances.
Trading activity, though slightly muted from the previous session, remained healthy. The regular market saw volumes of 706 million shares, down from 879 million a day earlier. Similarly, traded value decreased to Rs 32.18 billion from Rs 38.6 billion. Nonetheless, the market capitalization rose to Rs 16.413 trillion, up from Rs. 16.401 trillion the previous day, adding Rs 12 billion in market cap and signaling a net positive investment trend.
Leading the volume charts was Pak International Bulk Terminal (PIBTL), which closed at Rs. 9.69 with over 90 million shares changing hands. Other heavily traded scrips included First Dawood Properties, closing at Rs. 6.11 with 40.6 million shares and DH Partners Limited closed at Rs. 42.06 with 37.2 million shares.
On the gainers' board, PIA Holding Company surged by Rs 3,164.51 to close at Rs. 34,809.56, while Unilever Pakistan Foods rose Rs 121.82 to end at Rs 23,918. Meanwhile, Rafhan Maize and Ismail Industries led the laggards, finishing at Rs 9,453 and 2,013.15 declining by Rs 96.44 and Rs 67.57 respectively.
Overall market breadth remained evenly balanced, with 223 companies advancing, 221 declining, and 38 remaining unchanged out of 482 total scrips traded.
The BR Automobile Assembler Index ended the session down by 111.77 points or 0.5 percent at 22,245.22 points, with a total turnover of 3.336 million shares. The BR Cement Index finished lower by 6.06 points or 0.06 percent at 10,672.75 points, recording a total turnover of 39.668 million shares.
The BR Commercial Banks Index ended down 610.62 points at 39,907.91 points, with a total turnover of 62.53 million shares. The BR Power Generation and Distribution Index dropped 54.12 points to settle at 21,284.70, with a total turnover of 19.46 million shares.
The BR Oil and Gas Index slipped 36 points or 0.3 percent to close at 11,994.90, with a total turnover of 41,648,957 shares. The BR Technology & Communication Index was down by 28.68 points or 28.68 percent, ending the session at 2,985.41 points, with a total turnover of 72.81 million shares.
Market observers noted that the current rally is being fueled by investors' expectations of robust corporate earnings and attractive dividend payouts. Analyst Ahsan Mehanti stated that the ongoing bull run is supported by anticipated credit rating upgrades from Moody's, driven by strong macroeconomic recovery. Reports of the Finance Minister presenting compelling fiscal data to Moody's to improve the country's rating and additionally, government assurances of resolving industrial concerns over budgetary measures, is paving the way for a bullish close at PSX.
Copyright Business Recorder, 2025
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