PSX SUMMARY: The Pakistan Stock Exchange (PSX) extended its bullish rally on Tuesday, with the benchmark KSE-100 Index soaring to an all-time high of 85,663.97 points, gaining 753.68 points or 0.89%. This surge was driven by positive sentiment surrounding the improving economic outlook, even as index heavyweight Hub Power Company (HUBC) plunged over 8%.
The rally was broad-based, with 63 of the KSE-100 Index constituents closing in the green. The October-December quarter has historically been a strong period for the stock market, with the KSE-100 climbing an average of 6.6% in the final three months of the year since 1992.
The index traded within a range of 926.29 points, hitting an intraday high of 85,824.27 (+913.98 points) and a low of 84,897.98 (-12.31 points). A total of 283.71 million shares were traded on the KSE-100 Index.
In the broader market, the All-Share Index also closed higher at 54,485.33 points, up by 463.29 points or 0.86%. The total market volume increased to 506.57 million shares compared to 449.51 million shares in the previous session, while the traded value stood at Rs33.05 billion, marking an increase of Rs2.85 billion.
Top Gainers and Losers
The top gainers during the day included HBL (+6.70%), LCI (+6.68%), BAHL (+6.56%), BAFL (+5.94%), and HCAR (+4.86%). On the flip side, the top losers were HUBC (-8.04%), PGLC (-4.59%), NPL (-3.98%), EFUG (-2.59%), and LUCK (-2.26%).
Sector Performance
Sector-wise, the KSE-100 Index was supported primarily by:
- Commercial Banks (+515.86 points)
- Fertilizer (+260.53 points)
- Oil & Gas Exploration Companies (+140.66 points)
- Chemical (+41.57 points)
- Investment Banks/Companies/Securities (+36.87 points)
However, the index was dragged lower by sectors such as:
- Power Generation & Distribution (-319.07 points)
- Cement (-39.41 points)
- Refinery (-9.68 points)
- Tobacco (-8.78 points)
- Paper, Board & Packaging (-6.97 points)
Major Contributors
The top contributors to the KSE-100 Index’s gains included BAHL (+165.08 points), HBL (+162.19 points), EFERT (+143.63 points), OGDC (+107.62 points), and BAFL (+87.09 points). On the downside, HUBC (-304.05 points), MARI (-59.55 points), LUCK (-58.85 points), UBL (-19.87 points), and FCCL (-16.73 points) weighed on the index.
Market Sentiment
The ongoing rally in Pakistan’s stock market has been largely fueled by multiple factors, including the International Monetary Fund’s (IMF) board approval of a $7 billion loan, a notable decline in bond yields following a larger-than-expected drop in September inflation, and a rise in the central bank’s reserves.
In the fiscal year to date, the KSE-100 Index has gained 7,219 points or 9.20%. For the ongoing calendar year, the index has posted a cumulative gain of 23,213 points, equivalent to a 37.17% increase.
With economic conditions stabilizing and external factors such as IMF support and declining inflation, the stock market is expected to maintain its positive momentum. However, analysts caution that volatility may persist, particularly as investors remain watchful of developments in key sectors such as power, cement, and oil & gas.
The performance of the KSE-100 in the coming months will likely be influenced by macroeconomic trends, corporate earnings reports, and geopolitical factors.
