KARACHI: The Pakistan Stock Exchange (PSX) faced volatility on Tuesday but managed to close with a slight recovery.
The benchmark KSE-100 Index gained 193.55 points or 0.17 percent to close at 116,633.17 points on Tuesday compared to 116,439.62 points on Monday.
The daily volumes at the ready counter were also dull and overall, 268 million shares were traded down from 312 million shares in the previous session. Similarly, the total traded value on the ready counter fell to Rs 19.45 billion, compared to Rs 21 billion in the last session.
On Tuesday, BRIndex100 opened at 12,361.57 points and closed at 12,417.82 points, which was 56.25 points or 0.46 percent higher than previous close. Total volume at BRIndex100 was 233.82 million shares.
BRIndex30 also gained 247.94 points or 0.65 percent to settle at 38,463.91 points with total volume of 165.881 million shares.
The market capitalization increased by Rs 35 billion to reach Rs 14.217 trillion. Out of 436 active scrips, 155 closed in positive and 214 in negative while the value of 67stocks remained unchanged.
Analysts said stocks showed recovery led by oil scrips as investors eye resolve over power sector circular debt amid reports of IMF conditional readiness to approve Rs1.5 trillion Govt circular debt management plan. Speculations ahead of quarter end close, China debt rollover and surging global crude oil prices played catalyst role in bullish close at PSX, they added.
Pak Elektron was the volume leader with 23.5 million shares and closed at Rs 45.90 followed by TRG Pak Ltd that closed at Rs 66.14 with 22.8 million shares. Cnergyico PK ranked third with share trading of 14.45 million shares and it closed at Rs 7.94.
Unilever Pakistan Foods Limited and Indus Motor Company Limited were the top gainers increasing by Rs 23.50 and Rs 18.77 respectively to close at Rs 23,549.00 and Rs 2,060.00, while Rafhan Maize Products Company Limited and Service Industries Limited were the top losers declining by Rs 91.06 and Rs 25.45, respectively to close at Rs 9,066.01 and Rs 1,292.98
Analysts said that the local bourse experienced a volatile session, attempting to recover from yesterday’s sharp sell-off. The index initially showed strength, climbing 464 points at its intraday high as buying activity resurfaced. However, the momentum was short-lived, with profit-taking pushing the index down to an intraday low of 561 points.
Despite the turbulence, the market managed to regain some ground, closing at 116,633, up 193 points. This volatility can be attributed to the lack of clarity regarding the IMF review and the SLA agreement, which has kept investor sentiment cautious.
The positive momentum was largely supported by OGDC, HUBC, PSO, MEBL, and SNGP, which collectively added 394 points to the index. On the flip side, SYS, TRG, and UBL weighed on sentiment, erasing 153 points from the gains. On the result front, PAEL announced its 4QFY24 financial results, reporting an EPS of Rs 0.58, bringing its FY24 EPS to Rs 2.72, with no cash payout.
BR Automobile Assembler Index closed at 21,543.17, gaining 52.79 points or 0.25 percent, with a total turnover of 2.655 million shares. BR Cement Index closed at 13,129.30, declining by 28.84 points or 0.22 percent, with a total turnover of 12.908 million shares.
BR Commercial Banks Index closed at 30,523.73, down 40.25 points or 0.13 percent, with a total turnover of 19.225 million shares. BR Power Generation & Distribution Index closed at 20,020.62, rising 276.65 points or 1.40 percent, with a total turnover of 15.268 million shares.
BR Oil & Gas Index closed at 12,356.63, gaining 185.96 points or 1.53 percent, with a total turnover of 39.163million shares. BR Tech & Communication Index closed at 5,175.49, dropping 106.40 points or 2.01 percent, with a total turnover of 43.13 million shares.
Copyright Business Recorder, 2025
Comments