KEY POINTS
- The KSE-100 Index rose about 1 per cent to end near 186,901
- Institutional demand and export data underpinned local investor confidence
- Market breadth positive with most stocks closing higher
ISLAMABAD: The Pakistan stock market recorded a firm advance on Tuesday as the benchmark KSE-100 Index climbed nearly 1 per cent, extending a recovery that began in the prior session.
The benchmark index added 1,842.91 points to finish at 186,900.74, reflecting sustained demand from local institutional investors who dominated trading throughout the session.
Market participants said the upbeat tone was reinforced by recent macroeconomic developments that helped bolster sentiment.
Among the major contributors to the index’s upward move were companies such as Fauji Fertiliser Company, United Bank Limited, Engro Corporation, Meezan Bank and Systems Limited, which collectively added several hundred points to the benchmark.
Broad participation was evident with a large majority of traded stocks ending in positive territory.
Encouraging external sector data, including record goods exports surpassing the $3 billion mark, was a key factor in lifting investor confidence, traders said.
The rollover of $2 billion in external financing from the United Arab Emirates on an interim basis provided a measure of reassurance on liquidity and financing dynamics, they added.
Volume on the all-share index rose to 848.56 million from 740.09 million in the previous session, while the value of shares traded increased to Rs 50.02 billion.
K-Electric was the volume leader with 99.51 million shares changing hands, followed by F. National Equities and Bank of Punjab.
Out of 486 companies that traded on Tuesday, 294 posted gains, 145 registered losses, and 47 remained unchanged, signalling a broad-based advance in the market.
In currency markets, the Pakistani rupee posted a marginal gain in the inter-bank session, settling at 279.75 against the US dollar, reflecting a modest stabilising trend.
According to market analysts, global cues remained mixed, strong domestic institutional participation, and improving macroeconomic indicators supported the local market’s positive run.
