KARACHI: Pakistan Stock Exchange on Monday witnessed bullish trend and closed on strong positive note with healthy gains on the back of fresh buying on available attractive low levels.
The benchmark KSE-100 index surged by 982.77 points or 0.87 percent and crossed 114,000 level to close at 114,230.06 points. During the session, the index hit 114,496.09 points intra-day high, however closed on slightly low level due to profit taking in some stocks.
Trading activities also improved as total daily volumes on ready counter increased to 521.209 million shares as compared to 499.846 million shares traded on last Friday while total daily traded value on the ready counter increased to Rs 28.287 billion against previous session’s Rs 24.825 billion.
BRIndex100 soared by 152.44 points or 1.29 percent to close 11,949.19 points with total turnover of 458.983 million shares.
BRIndex30 increased by 548.73 points or 1.52 percent to close at 36,646.47 points with total daily trading volumes of 344.104 million shares.
The foreign investors however remained on the selling side and withdrew $3.358 million from the local equity market. Total market capitalization increased by Rs 132 billion to Rs 14.362 trillion. Out of total 449 active scrips, 280 closed in positive and 116 in negative while the value of 53 stocks remained unchanged.
WorldCall Telecom was the volume leader with 70.133 million shares and inched up by Rs 0.03 to close at Rs 1.78 followed by Cnergyico PK that gained Rs 0.27 to close at Rs 6.95 with 39.599 million shares. Sui Southern Gas Company increased by Rs 3.83 to close at Rs 43.76 with 31.998 million shares.
Unilever Pakistan Foods and Service Industries were the top gainers increasing by Rs 499.99 and Rs 126.00 respectively to close at Rs 21,400.00 and Rs 1,542.18 while JDW Sugar Mills and Sapphire Textile Mills were the top losers declining by Rs 55.00 and Rs 44.08 respectively to close at Rs 913.09 and Rs 1,206.00.
An analyst at Topline Securities said that the bulls firmly took control of the trading session, propelling the market to impressive gains. The index surged to an intraday high of plus 1,248 points before eventually closing at the 114,000 level, marking a robust increase of 700 points or 0.63 percent.
The rally was fuelled by strong buying across sectors, underpinned by optimism over economic indicators and expectations of improved December quarter earnings. Notably, blue-chip stocks and high-volume sectors witnessed heightened investor activity following last week’s market pullback.
GAL from the Auto Sector continued its upward trajectory, closing at its upper circuit, driven by the successful launch of the new pickup truck, “JAC T9 Hunter,” which garnered significant attention from investors.
Engro Holdings contributed negatively by up to 275 points to the KSE-100 as shares were transferred to investors following the merger.
Key contributors to the upward trajectory included MARI, MTL, UBL, SRVI, and FFC, collectively adding 620 points.
BR Automobile Assembler Index surged by 757.48 points or 3.59 percent to close at 21,840.16 points with total turnover of 13.971 million shares.
BR Cement Index gained 94.87 points or 0.89 percent to close at 10,717.39 points with 45.850 million shares
BR Commercial Banks Index added 213.18 points or 0.72 percent to close at 29,643.56 points with 30.915 million shares.
BR Power Generation and Distribution Index increased by 137.64 points or 0.77 percent to close at 18,116.13 points with 28.059 million shares.
BR Oil and Gas Index soared by 123.54 points or 1.01 percent to close at 12,395.91 points with 62.513 million shares.
BR Tech. & Comm. Index closed at 5,334.54 points, up 62.13 points or 1.18 percent with 110.689 million shares.
“At first, the benchmark index received some profit taking but after that selling there was no bumps in the road. Investors did some value hunting post last week massive selling as blue-chip stocks were available on attractive price levels offering handsome dividend yields”, ”, Ali Najib at Insight Securities said.
Anticipation of 100bps further cut in interest rates in the upcoming monetary policy (scheduled on Jan 27th), expectation of further cooling down on inflation front as street is expecting that Jan inflation number may land at 3-3.5 percent and prospects of better corporate announcements in the forthcoming result season kept the bears at the bay during the trading hours.
Today, MARI, MTL, UBL, SRVI and FFC cumulatively added 576 points to the index. Conversely, ENGROH, BAFL and PKGP lost 331 points, collectively.
Copyright Business Recorder, 2025
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