ISLAMABAD: The Pakistan Stock Exchange observed a positive trend on Tuesday, as the benchmark KSE-100 Index gained nearly 400 points, with investors eyeing the upcoming budget to be unveiled later in the day.
Resuming trading after the Eid-al-Adha holidays, the market began with positive momentum, gaining 782.56 points during intra-day trading. The index settled at 122,024.44 points, registering a gain of 383.44 points or 0.32%.
Buying momentum was observed in key sectors including commercial banks, fertilizer, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks, including PRL, WAFI, MARI, OGDC, POL, HBL, MCB, and MEBL, traded in the green.
The federal government is set to present the Budget for the fiscal year 2025–26 in the National Assembly today, with an estimated outlay of Rs 17.6 trillion.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, will present the budget in the National Assembly. On the same day, he will also introduce the Finance Bill 2024 in the Senate, in accordance with Article 73 of the Constitution.
On Tuesday, a total of 592,952,761 shares were traded during the day as compared to 854,617,208 shares the previous working day, whereas the price of shares stood at Rs 21.827 billion against Rs 25.793 billion on the last trading day.
As many as 473 companies transacted their shares in the stock market, 230 of them recorded gains and 200 met losses, whereas the share price of 43 companies remained unchanged.
The three top trading companies were Cnergyico PK with 61,375,370 shares at Rs 8.03 per share, followed by K-Electric Limited with 59,081,829 shares at Rs 5.62 per share, and Dewan Cement settled with 45,553,863 shares at Rs 15.52 per share.
Sapphire Fibres Limited witnessed a maximum increase of Rs 96.67 per share, closing at Rs 1,152.79, whereas Sapphire Textile Mills Limited was the runner-up with Rs 43.08 rise in its share price to close at Rs 1,143.08.
PIA Holding Company LimitedB witnessed a maximum decline of Rs 2,879.00 per share price, closing at Rs 25,910.98, whereas the runner-up Khyber Textile Mills Limited with a drop of Rs 273.52 in its per share price to Rs 2,461.65.
During the previous week, the Pakistan Stock Exchange (PSX) stayed positive, fueled by growing optimism over a potential agreement between Pakistan and the IMF.
The benchmark KSE-100 index increased by 1,950 points or 1.6% to close at 121,641 points on the last trading day of the week compared to 119,691 points at the end of the previous week.
Global trend
Global stock markets were upbeat on Tuesday, while the US dollar remained on guard as trade negotiations between the United States and China continued into a second day. Early signs suggested a possible easing of tensions between the world’s two largest economies.
US President Donald Trump offered an optimistic view of the discussions, which concluded for the evening on Monday at Lancaster House in London and were scheduled to resume at 09:00 GMT on Tuesday.
