KEY POINTS
- Benchmark index gains 1.72% on contracted volumes
- Index hits intraday high of 168,619 and low of 165,567
- 431 scrips active: 252 gainers, 150 losers, 29 unchanged
- Over 776m shares traded; top performers led by banking
ISLAMABAD: Bulls marched unabetted on Pakistan’s bourse for the sixth consecutive session on Thursday to break all previous records with a fresh historical peak on the benchmark.
Investors expressed continued buying interest in blue-chip stocks, pushing the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index to yet another fresh peak, closing well above the 168,000 level.
According to the market observers, the index has been on a sustained upward trajectory in recent sessions, with renewed investor appetite pushing the bourse to successive record highs.
According to PSX data, the KSE-100 closed at 168,489.62 points, up 2,849.29 points or 1.72%. The index traded in a wide range of 3,052 points, touching an intraday high of 168,619.32 and a low of 165,567.22. The All-Share Index rose 1.62% while the KSE-30 advanced 1.93%.
Market breadth remained positive, with 431 scrips active. Of these, 252 advanced, 150 declined, and 29 closed unchanged.
The total market volume stood at 776.26 million shares, compared with 1.57 billion shares across the broader exchange.
Low volume indicated that the investor’s interest remained confined to the selective blue chip stocks, as against a wide-ranging movement in stocks.
Top movers
Banking and energy scrips led the charge, with the Banking Index (BKTI) jumping 5.49%.
Major banks and select oil stocks were among the day’s top gainers, while high-cap technology and cement shares also saw strong buying interest.
Drivers and underlying sentiment
Analysts told WE News English that institutional and foreign investors were supporting the sustained uptrend, with banks leading the way in expectations of earnings upgrades.
They described the fiscal tightening and signs of economic stabilisation as drivers of sustained bullish sentiment.
Regional and global linkages
Regional equity markets were mixed, while global oil prices eased slightly. Traders cited commodity price movements and foreign investor flows as key external factors influencing near-term direction.
Outlook
Analysts quoted in Dawn said the index’s latest record close underscores the market’s bullish momentum, with resistance now seen beyond 168,500 points.
They added that continuation of political calm and foreign inflows would be crucial for sustaining the rally.
Still, small investors need to stay vigilant of both internal and external factors, since the technical correction is overdue, by now, as cautioned by the analysts.
