PSX extends record rally
The benchmark KSE-100 Index surged by 1,421 points or 1.08 percent to close at an unprecedented 133,370 points on Monday, up from 131,949.07 points on Friday. The index hit an intraday high of 133,862 points before settling and maintained its upward trajectory throughout the session.
On Monday, BRIndex100 closed at 13,547.14, gaining 111.24 points or 0.83 percent with a total volume of 742.83 million shares. Meanwhile, BRIndex30 settled at 39,742.37, up by 325.04 points or 0.82 percent, with a total volume of 398.64 million shares.
Topline Securities observed that Monday's rally was fuelled by a strong performance in banking stocks amid expectations of robust earnings and dividend payouts for the June quarter. Textile stocks also advanced, likely supported by optimism over a potential tariff agreement with the United States.
Among the top contributors to the day's gains were HBL, Fauji Fertilizer Company (FFC), Bank Alfalah (BAFL), MCB Bank, and Lucky Core Industries (LCI), collectively adding 476 points to the index. However, some pressure was witnessed from negative contributions by Adamjee Insurance (AICL), Engro Fertilizers (EFERT), and Mari Petroleum (MARI).
Investor participation remained exceptionally strong, with total traded volume in the ready market swelling to 919.9 million shares, significantly higher than Friday's 733.07 million. The total traded value also rose sharply to Rs 45.31 billion, from the previous session's Rs 34.94 billion. In terms of market capitalization, Monday's trading session added a substantial Rs. 196.19 billion to the bourse's total market cap, which climbed from Rs. 15.91 trillion on Friday to Rs. 16.106 trillion.
Leading the volume charts was Image Pakistan, with an impressive 48.08 million shares traded, as its share price climbed to Rs 36.32. Other actively traded stocks included Bank of Punjab with 42.51 million shares and WorldCall Telecom with 36.92 million shares to end at Rs 11.87 and Rs 1.55 respectively.
Among the day's top gainers in individual stock prices was Hoechst Pakistan, which surged by Rs 158.11 to close at Rs 3,526.13, and Lucky Core Industries, which added Rs 158.05 to finish at Rs 1,738.51. On the downside, PIA Holding Company LimitedB shed Rs 1,882.55 to settle at Rs 21,787.59, while Unilever Pakistan Foods Limited lost Rs 247.84 to close at Rs 23,399.15.
The broader market also painted a healthy picture. Out of 479 companies active in the ready market, 299 posted gains, 155 closed in the red, while 25 remained unchanged.
The BR Automobile Assembler Index settled at 21,535.72, recording an increase of 34.06 points or 0.16 percent, with a total turnover of 7.60 million shares.
The BR Cement Index ended the session at 10,712.65, gaining 118.51 points or 1.12 percent, while total traded volume stood at 48.65 million shares.
The BR Commercial Banks Index closed at 38,167.41 after adding 539.54 points, reflecting a rise of 1.43 percent, with a hefty turnover of 118.70 million shares.
The BR Power Generation and Distribution Index finished at 21,105.22, up by 56.76 points or 0.27 percent, with a total traded volume of 33.60 million shares.
The BR Oil and Gas Index advanced by 39.52 points, or 0.32 percent, to close at 12,318.79, with a total turnover of 61.40 million shares.
Lastly, the BR Technology & Communication Index settled at 3,086.65, marking a gain of 19.27 points or 0.63 percent, accompanied by a total volume of 91.94 million shares.
Ahsan Mehanti, Director at Arif Habib Corporation, remarked that stocks closed at a new all-time high during the earnings season rally at PSX as fears over US trade tariffs receded following a trade agreement that prevented the implementation of a 29 percent duty on US exports.
He added that investor sentiment was also lifted by surging foreign exchange reserves, relative rupee stability, and government deliberations on the privatization of state-owned enterprises (SOEs), all of which acted as catalysts for the market's record close.
Copyright Business Recorder, 2025
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