The Pakistan Stock Exchange (PSX) opened the week on a highly strong note as the KSE-100 index soared 1,591 points to close at a new record high at 163,848.
Buying interest remained robust, particularly in attractive stocks, pushing the index to the intra-day peak of 163,904, while the day's low stood at 162,059. There was brisk activity, reflected in high trading volumes of 1.3 billion shares.
Investors drew support from the visit of an International Monetary Fund (IMF) mission for second review of its $7 billion Extended Fund Facility (EFF) and first assessment under the Resilience and Sustainability Facility (RSF).
Arif Habib Limited (AHL), in its commentary, wrote that stocks took a solid start to the week with the KSE-100 index gaining 0.98% day-on-day and reaching the high of 163.9k in intra-day trading.
Some 60 shares rose while 40 fell, where Fauji Fertiliser Company (+3.1%), Pakistan State Oil (+6.16%) and HBL (+2.51%) contributed the most to index gains. On the contrary, Engro Holdings (-0.66%), Lucky Cement (-0.73%) and DG Khan Cement (-2.52%) were the biggest drags, it stated.
Among corporate news, Ghandhara Automobiles (+0.04%) announced FY25 earnings per share (EPS) of Rs71.85, up 11x year-on-year (YoY), and dividend per share of Rs10, which was above expectations.
Additionally, Air Link Communication (+10%) announced FY25 EPS of Rs12.01, +3% YoY, and dividend per share of Rs7, which also beat expectations. AHL estimates the weekly draw will remain at 165k with support rising to 162k.
KTrade Securities, in its market wrap, commented that stocks registered another strong session on Monday, with the KSE-100 index surging 1,591 points (+0.98%) to a record high of 163,848. The rally was led by the banking sector, followed by fertiliser companies, where major contributors were Fauji Fertiliser, PSO, HBL, NBP, Faysal Bank, Meezan Bank and UBL.
Investor participation remained strong and market sentiment was upbeat, supported by the Pak-Saudi defence agreement, circular debt retirement plan for the energy sector and Prime Minister Shehbaz Sharif's meeting with US President Donald Trump, signalling stronger international engagement. These developments continue to drive broad-based investor interest, noted KTrade.
Topline Securities observed that bulls kept their grip firm at the PSX as the benchmark index soared to the intra-day high of 1,646 points before closing at 163,848, up 1,591 points.
The rally was largely driven by aggressive buying from local mutual funds. National Clearing Company data showed that mutual funds were hefty net buyers on Friday and the momentum was carried through to Monday's session as well, giving the market a solid lift, it said.
Sector-wise, fertiliser, energy and banks collectively added 1,017 points to the index while cement and automobile sectors trimmed 206 points. Market activity, however, slowed compared to the previous session, added Topline.
JS Global analyst Mubashir Anis Naviwala remarked that the market witnessed another powerful trading session, which drove the KSE-100 to the new intra-day high of 163,904 points.
Strong buying interest continued to fuel the momentum, keeping sentiment upbeat. The index closed at 163,848, up 1,591 points, marking another historic high, he said.
The rally was led by banking, fertiliser and exploration & production stocks. However, some profit-taking was observed in cement stocks, which slightly capped broader gains. Naviwala believes the bullish momentum will likely continue in the near term.
Overall trading volumes decreased to 1.3 billion shares compared with previous tally of 1.7 billion. Traded value stood at Rs65.8 billion.
Shares of 482 companies were traded. Of these, 235 stocks closed higher, 216 dropped and 31 remained unchanged.
WorldCall Telecom led the volumes with trading in 119 million shares, falling Rs0.03 to close at Rs1.82. It was followed by K-Electric with 78.2 million shares, rising Rs0.02 to close at Rs7.15 and Hascol Petroleum with 63.5 million shares, falling Rs0.41 to close at Rs13.67. Foreign investors sold shares worth Rs1.2 billion, the National Clearing Company reported.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ