The Pakistan Stock Exchange (PSX) saw an increase on Tuesday, with the KSE-100 index rising by 1,641.10 points, or 1.47%, reaching a current index of 113,019.06 during intra-day trading.
The index reached a high of 113,103.24 points and a low of 111,834.20 points during the trading session.
Despite the positive movement in the index, trading activity remained high, with a total volume of 84,059,979 stocks traded and a market value of 8.74 billion.
The PSX's previous close was recorded at 111,377.96 points, reflecting a substantial drop in market performance during the previous session.
On Monday, the Pakistan Stock Exchange (PSX) saw a notable recovery, driven by an earnings season rally as investors closely monitored progress on key International Monetary Fund (IMF) targets. Analysts noted that achievements such as the primary budget surplus and provincial revenue collection contributed to the market’s positive momentum ahead of the upcoming IMF review.
Ahsan Mehanti of Arif Habib Corp stated that the market's recovery was fueled by investor expectations of further easing by the State Bank of Pakistan (SBP) and deliberations on the privatization of state-owned enterprises (SOEs).
The KSE-100 index surged by 1,055.03 points (0.96%), closing at 111,377.97. The surge was largely due to better-than-expected corporate earnings, which bolstered investor sentiment and led to renewed buying interest in key sectors. Additionally, positive response to the Zarea book-building process helped lift market sentiment.
Top-performing stocks included Mari Petroleum, Engro Holdings, Hub Power, Pakistan Petroleum, and Attock Refinery, collectively contributing 448 points to the index. However, MCB Bank, Pakistan Oilfields, and Pakgen Power were the biggest decliners.
Corporate announcements, such as Engro Fertilisers' better-than-expected earnings, also supported the market's positive outlook. Investors favored blue-chip stocks at attractive price levels, buoyed by compliance with IMF conditions and better-than-anticipated corporate results.
Overall, trading volumes increased to 415.2 million shares, with 429 companies traded. The Bank of Punjab led the volume with 55.9 million shares. Despite positive market movements, foreign investors sold shares worth Rs652.1 million.
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