KARACHI: The equities market on Tuesday reached new heights on positive sentiment, mainly driven by the approval of a $1.3 billion tranche by the Executive Board of the International Monetary Fund (IMF).
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index closed the trading session at 169,456.38, showing an increase of 1,153.14 points, or 0.69 per cent. The index remained positive throughout the day, recording an intraday high of 169,601.03 (+1,297.79) and a low of 168,880.21 (+576.97) points.
Analysts observed that market sentiment continued to draw strength from Pakistan’s improving macroeconomic backdrop following the IMF Executive Board’s approval of a $1.3 billion loan package. The decision, which cleared $1.09 billion under the EFF and $200 million under the RSF, reinforced investor confidence at a time when the economy is stabilising but still exposed to vulnerabilities.
Topline Securities, in its post-trading note, said that the bulls commanded the day’s session with remarkable strength, lifting the benchmark index to new heights. After soaring to an intraday high of 1,297 points, the market closed at a record 169,456, gaining 1,153 points, or 0.69 per cent.
The brokerage house noted that the rally drew further strength from the IMF’s approval of nearly 1.1 billion dollars under the EFF and 220 million dollars under the RSF, a decision that keeps the two loan programmes worth 8.4 billion dollars on track and boosted investor sentiment.
It observed that the momentum was powered by robust and persistent buying from local mutual funds, which revived sentiment and kept the rally anchored. Market heavyweights FFC, LUCK, HBL, PSO and MLCF led the advance, collectively contributing roughly 640 points to the benchmark’s rise. Participation remained strong, with total volumes reaching 1,022 million shares, while overall turnover surged to Rs51.1 billion. KEL stood out as the session’s volume leader with 86.7 million shares traded.
It said that with strong flows, encouraging macro signals and reinvigorated sentiment, the record close reinforces the bullish momentum carrying the market forward.Chase Securities observed that institutional flows remained active in key dividend and event-driven plays. FFC saw notable accumulation by mutual funds, while insurance companies realised gains. Energy names are also expected to stay in focus, with PPL drawing investor interest amid market chatter surrounding successful offshore exploration activity. PSO is likely to maintain momentum as the ECC’s expected approval of an OMC margin increase improves the sector outlook. Additionally, NBP remains in the spotlight as the market anticipates a strong full-year dividend payout.
According to the market summary, of the 100 index companies, 64 closed up, 34 closed down, while 2 remained unchanged.Top gainers during the day were ISL (+10.00 per cent), INIL (+8.54 per cent), DHPL (+7.66 per cent), BNWM (+6.34 per cent) and LOTCHEM (+6.13 per cent).
Top losers were TRG (-6.65 per cent), HUMNL (-4.33 per cent), PTC (-3.17 per cent), CPHL (-3.14 per cent) and SEARL (-2.37 per cent).In terms of index-point contributions, companies that supported the index were FFC (+194.27 points), LUCK (+147.6 points), HBL (+130.3 points), PSO (+88.42 points) and MLCF (+79.48 points).
Companies that dragged the index lower were TRG (-61.94 points), OGDC (-43.07 points), PTC (-31.72 points), NBP (-26.39 points) and MEBL (-25.91 points).Sector-wise, the KSE-100 index was supported by cement (+338.92 points), commercial banks (+213.30 points), fertiliser (+203.07 points), oil and gas marketing companies (+107.93 points) and power generation and distribution (+91.48 points). Sectors that weighed on the index included technology and communication (-92.58 points), pharmaceuticals (-33.89 points), insurance (-8.2 points), leather and tanneries (-7.95 points) and miscellaneous (-2.42 points).
