Historic milestone achieved
KARACHI: In a landmark trading session on Tuesday, the Pakistan Stock Exchange (PSX) surged to record high, driven largely by investor optimism following a ceasefire agreement between Iran and Israel.
The benchmark KSE-100 Index rose significantly 6,079 points or 5.23 percent, settling at record level of 122,246 points. This marks the second-highest single-day increase in terms of points. The index opened in the green and remained in positive territory throughout the day, fluctuating between an intraday high of 122,725.21 points and a low of 120,369.54 points.
On Tuesday, BRIndex100 closed at 12,461.11 points, gaining 687.06 points or 5.84 percent, with a total volume of 627.23 million shares. On the other hand, BRIndex30 surged by 2,769.72 points or 7.92 percent to close at 37,744.13, with a total volume of 423.25 million shares.
Analysts noted that the easing geopolitical tensions revived confidence in Pakistan's capital market, which had been bracing for potential fallout through disrupted trade routes and spiking oil prices.
Market analyst Ahsan Mehanti of Arif Habib Corporation noted that the ceasefire played a pivotal role in triggering today's euphoric rally. 'The agreement between Iran and Israel acted as a strong catalyst, as investors rushed to capitalize on undervalued positions following receding fears over supply chain disruptions and inflationary pressures linked to Middle East tensions,' he remarked.
Echoing this sentiment, Topline Securities reported that the local bourse opened 'with a bang' as investors cheered the breakthrough truce. As the bullish momentum intensified, the session witnessed a historic moment when the KSE-30 index hit its upper circuit breaker, an exceptionally rare event that electrified the trading floor and added to the sense of euphoria gripping the market.
The ready market turnover witnessed an impressive rise, with traded volume jumping to 804.77 million shares, valued at over Rs 37.61 billion, a significant leap from the previous session's 595.01 million shares and Rs 23.48 billion in value.
The market capitalization witnessed an expansion of over Rs 714.57 billion to 14.778 Trillion on Tuesday from 14.063 trillion on Monday, reflecting renewed foreign and institutional interest amid improving indicators and geopolitical stability.
Among the standout performers in the ready market were WorldCall Telecom with 65.35 million shares traded with closing price of Rs 1.46, followed by K-Electric at 54.3 million shares and closing rate Rs 5.24, and Cnergyico PK with 37.88 million shares, closed at Rs 7.16.
In terms of price movement, PIA Holding Company Limited led the charge with a remarkable increase of Rs 1,003.85 per share, closing at Rs 11,042.30, followed by Unilever Pakistan Foods Limited, which gained Rs 721.43 to settle at Rs 23,621.43 per share. Conversely, Faisal Spinning Mills Limited's share decreased by Rs 20.17 and settled at Rs. 315 while Tandlianwala Sugar Mills Limited shares were also saw a decline of Rs 15.01 and finished at Rs 165.69.
BR Automobile Assembler Index gained 934.56 points or 4.82 percent to close at 20,320.11 points, with a turnover of 4.94 million shares. BR Cement Index climbed 844.45 points or 8.79 percent, settling at 10,450.86 points on 66.96 million shares.
BR Commercial Banks Index closed at 32,563.16 points, up 1,251.54 points or 4 percent, with 70.93 million shares traded. BR Power Generation & Distribution Index rose 925.34 points or 4.71 percent to 20,572.20 points on a turnover of 63.52 million shares.
BR Oil & Gas Index settled at 11,763.14 points, adding 685.36 points or 6.19 percent, with 65.98 million shares changing hands. Lastly, BR Technology & Communication Index jumped 206.30 points or 7.93 percent to 2,806.75 points on the turnover of 107.37 million shares.
According to JS Global, the PSX experienced a powerful buying spree immediately after US President's announcement of the ceasefire between Iran and Israel. Just seconds after the market halt ended, the KSE-100 Index surged by more than 6,500 points, igniting widespread euphoria and bullish sentiment that dominated the entire session.
Copyright Business Recorder, 2025
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