KARACHI: Pakistan Stock Exchange on Monday witnessed a bullish trend and closed on positive note on the back of fresh buying, mainly by local investors coupled with institutional support.
The benchmark KSE-100 Index increased by 572.73 points or 0.50 percent and closed at 115,844.82 points. The index crossed 116,000 level to hit 116,276.42 points intraday high, however closed at lower level due to profit-taking in some stocks.
Trading activity also improved as total daily volumes on ready counter increased to 675.046 million shares as compared to 549.584 million shares traded on last Friday. The daily traded value on the ready counter increased to Rs 37.533 billion against previous session’s Rs 35.931 billion.
BRIndex100 gained 63.44 points or 0.52 percent to close at 12,208.04 points with total daily turnover of 582.438 million shares.
BRIndex30 added 110.52 points or 0.3 percent to close at 37,311.94 points with total daily trading volumes of 277.792 million shares.
Foreign investors however remained on the selling side and withdrew $1.105 million from the local equity market. The market capitalization increased by Rs 75 billion to Rs 14.319 trillion. Out of total 454 active scrips, 241 closed in positive and 157 in negative while the value of 56 stocks remained unchanged.
Lotte Chemical was the volume leader with 59.473 million shares and increased by Rs 1.89 to close at Rs 23.23 followed by Bank Makramah that gained Rs 0.70 to close at Rs 3.40 with 57.800 million shares. WorldCall Telecom closed on the previous session’s closing level of Rs 1.87 without any change with 56.891 million shares.
Hoechst Pakistan and Colgate-Palmolive Pakistan were the top gainers increasing by Rs 166.92 and Rs 23.90 respectively to close at Rs 2,986.68 and Rs 1,515.49 while Unilever Pakistan Foods and Philip Morris Pakistan were the top losers declining by Rs 148.50 and Rs 34.49 respectively to close at Rs 21,849.50 and Rs 698.11.
An analyst at Topline Securities said the bulls decisively regained control of the local bourse, propelling the index to an impressive intraday high of plus 1,004 points before closing at 115,844, marking a gain of 572.73 points or 0.50 percent.
This upward momentum was fuelled by strengthened investor confidence, bolstered by political stability that eased prevailing uncertainties. Additionally, anticipation of a potential rate cut in the upcoming monetary policy meeting, scheduled for January 27, 2025, further amplified positive market sentiment, driving broad-based optimism across key sectors.
Key contributors to the day’s gains included ENGROH, FFC, MEBL, SEARL, and MLCF, which collectively added 449 points to the index. On the other hand, losses in MARI, PPL, SYS, PSO, and BAFL pared gains by 182 points.
BR Automobile Assembler Index increased by 143.56 points or 0.65 percent to close at 22,097.62 points with total turnover of 34.488 million shares.
BR Cement Index surged by 128.52 points or 1.18 percent to close at 11,010.48 points with 51.828 million shares.
BR Commercial Banks Index added 113.08 points or 0.38 percent to close at 30,223.13 points with 81.769 million shares.
BR Power Generation and Distribution Index soared by 146.07 points or 0.77 percent to close at 19,172.17 points with 30.230 million shares.
BR Oil and Gas Index fell by 42.38 points or 0.34 percent to close at 12,334.71 points with 48.899 million shares.
BR Tech. & Comm. Index lost 23.82 points or 0.44 percent to close at 5,439.73 points with 93.381 million shares.
Ali Najib at Insight Securities said that the PSX had an easygoing day as the KSE-100 index remained in the green zone throughout the day.
Investors opted to do some cherry-picking in the blue-chips stocks ahead of an important global event which an oath taking ceremony of newly elected Donald Trump as a US President.
Fertilizer, Banks, Pharma and Cement sectors contributed positively as ENGROH, FFC, MEBL, SEARL and MLCF added 450 points, cumulatively. On the other hand, MARI, PPL and SYS lost 120 points, collectively, being the laggards of the day.
Copyright Business Recorder, 2025
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