KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday performed well, strongly fueled by investor optimism following a staff-level agreement with the IMF.
The benchmark KSE-100 Index increased by 1,139.14 points or 0.98 percent to close at 117,772.31points on Wednesday compared to116,633.17 points on Tuesday. The daily volumes at the ready counter also surged to 356 million shares up from 268 million shares in the previous session. Similarly, the total traded value on the ready counter rose to Rs 37.48 billion, compared to Rs 19.45 billion in the last session.
BRIndex100 opened at 12,417.82 points and finally closed at 12,604.40 points, which was 186.58 points or 1.5 percent higher than previous close. Total volume at BRIndex100 was 311.513 million shares.
BRIndex30 increased by 822.54 points or 2.14 percent to settle at 39,286.45 points with total volume of 184.586 million shares.
The market capitalization also increased by Rs 147 billion to reach Rs 14.364 trillion. Out of 438 active scrips, 206 closed in positive and 167 in negative while the value of 65 stocks remained unchanged.
Ahsan Mehanti of Arif Habib Corp said that stocks closed bullish after IMF reaches staff level deal to unlock new $1.3 billion under RSF and $1 billion under existing $7 billion EFF bailout program and Govt slashing Mar’25 inflation forecast to 1pc. Surging global crude oil prices and updated feasibility confirming $60 billion Reko Diq reserves sharing with OGDCL & PPL played catalyst role in bullish close at PSX, he added.
Pak Elektron was the volume leader with 29.1 million shares and closed at Rs 47.48 followed by PSO that closed at Rs 419.93with 26.8 million shares. Cnergyico PK ranked third with share trading of 17.4 million shares and it closed at Rs 8.00.
Philip Morris (Pakistan) Limited and Pakistan Tobacco Company Limited were the top gainers increasing by Rs 67.07 and Rs 56.22 respectively to close at Rs 737.77 and Rs 1,258.27, while Unilever Pakistan Foods Limited and Service Industries Limited were the top losers declining by Rs 549.00 and Rs 38.17 respectively to close at Rs 23,000.00 and Rs 1,254.81.
Analysts said that the local stock market performed strongly fuelled by investor optimism following a staff-level agreement with the IMF, which boosted market confidence.
The market’s gains were primarily driven by UBL, OGDC, PPL, MEBL, and MARI, which together contributed 883 points to the index. A total of 355 million shares were traded, with a turnover of Rs 37 billion. PAEL led the volume chart, with 29 million shares exchanged.
Bulls took charge of the trading floor on Thursday as investor sentiment surged following the IMF’s Staff-Level agreement for the first review. Additionally, optimism was fueled by a feasibility study conducted by OGDC and PPL on Reko Diq, further intensifying the rally.
BR Automobile Assembler Index closed at 21,689.31, marking a net gain of 146.14 points or 0.68 percent, with a total turnover of 5.634 million.BR Cement Index ended at 13,203.69 points, recording a positive change of 74.39 points or 0.57 percent, with a total turnover of 26.665 million.
BR Commercial Banks Index settled at 31,002.14 points, reflecting a strong increase of 478.41 points or 1.57 percent, with a total turnover of 40.166 million shares.BR Power Generation & Distribution Index closed at 20,292.73, registering a net rise of 272.11 points or 1.36 percent, with a total turnover of 15.663 million.
BR Oil & Gas Index finished at 12,639.29 points, posting a notable gain of 282.66 points or 2.29 percent, with a total turnover of 74.379.BR Tech & Communication Index declined to 5,153.50 points, experiencing a drop of 21.99 points or 0.42 percent, with a total turnover of 26.671 million.
Copyright Business Recorder, 2025
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