Late profit-taking caps PSX rally

KSE-100 gains 471 points in range-bound session as heavyweights lead

KARACHI:

The KSE-100 index of the Pakistan Stock Exchange (PSX) extended its positive momentum and gained around 470 points to settle above 184,500. The market opened on a strong note and rallied to the intra-day high of 185,890.53 before profit-taking trimmed gains in the second half, with the index dipping to the intra-day low of 184,214.80.

At the close of trading, the benchmark KSE-100 index posted a gain of 470.86 points, or 0.26%, and settled at 184,520.96. Early gains were trimmed as selling emerged just below the 186,000 level, limiting the day-on-day advance.

A total of 60 stocks rose while 39 declined, with UBL (+1.54%), Engro (+1.07%), Lucky Cement (+1.07%), and OGDC (+1.21%) contributing the most to the index gains, said Arif Habib Limited (AHL) in its report. Regular market turnover stood at 994.8 million shares with a traded value of Rs55.8 billion. Market capitalisation was recorded at Rs20.63 trillion. Among top volume stocks, Mari, Maple Leaf, BOP, OGDC, and Lucky Cement led the activity.

On the diplomatic front, Prime Minister Shehbaz Sharif will lead a high-level delegation to attend the funeral of Iran's late supreme leader Ayatollah Ali Khamenei in Tehran. Also, Qatar's Emir Sheikh Tamim bin Hamad Al-Thani met with US envoys Steve Witkoff and Jared Kushner in Doha.

"Wednesday's strong displacement candle, followed by Thursday's consolidation, creates a new support zone of 180.5k-184k from where demand is expected to emerge and attack the all-time highs of January 2026," said AHL.

Topline Securities' market review noted that the KSE-100 index extended its positive momentum, closing at 184,521, up 471 points (+0.26%). The market opened on a strong note and rallied throughout the morning, touching the intra-day high of 185,890.53 as buying interest remained robust across key sectors.

However, profit-taking emerged during the second half of the session, dragging the index to the intra-day low of 184,214.80 before selective late-session buying helped the market recover and close in positive territory. Heavyweight stocks UBL, Lucky Cement, OGDC, Pakistan Petroleum, and TRG were the major contributors to the benchmark index's gains, collectively adding 469 points, added Topline.

Mubashir Anis Naviwala of JS Global wrote that the stock market closed on a positive note despite a volatile trading session, where the KSE-100 settled at 184,521, gaining 471 points. The index touched the intra-day high of 185,891 before registering profit-taking in the second half. Buying in selective heavyweights helped the market maintain its gains.

Total traded volumes stood at 995 million shares, reflecting healthy market activity. Investor participation remained strong as selective sectors attracted fresh buying interest. "Market participants now await fresh economic and corporate triggers for the next directional move," he said.

In the regular market, overall trading volumes were recorded at 994.75 million shares compared with the previous session's tally of 941.48 million. The value of shares traded during the day was Rs55.79 billion.

Shares of 494 companies were traded. Of these, 256 stocks closed higher, 217 fell, and 21 remained unchanged.

TPL Properties was the volume leader with trading in 84.69 million shares, gaining Rs0.51 to close at Rs11.23. It was followed by The Bank of Punjab with 59.31 million shares, gaining Rs0.46 to close at Rs36.77, and Cnergyico Pk with 40.05 million shares, gaining Rs0.18 to close at Rs8.39. Foreign investors sold shares worth Rs268 million, the National Clearing Company reported.