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KARACHI: The KSE-100 index surged 959.09 points, or 0.56 per cent, on Tuesday to close at 173,155.79 against the previous session’s close of 172,196.7. The market saw volatile trading but closed in the positive amid hopes for a second round of negotiations between Iran and the United States in Islamabad.
The index touched an intraday high of 175,298.12 and a low of 172,837.8 during the session. The KSE-30 index gained 300.73 points, or 0.57 per cent, to close at 52,620.81.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed a mixed session. The market opened strongly, rising as much as 3,101 points intraday, before profit-taking trimmed gains; however, the index managed to close in positive territory.
On the macro front, the State Bank of Pakistan confirmed receipt of $1 billion from Saudi Arabia as the second tranche of a $3 billion deposit, reinforcing external liquidity and supporting investor confidence.
“Amid uncertainty over the second round of US-Iran talks in Islamabad, sentiment may remain supported but highly sensitive to evolving developments and headlines,” said Ali Najib.
Turnover in the ready market declined 10.1 per cent to 1.165 billion shares from 1.296 billion shares in the previous session. Traded value fell 15.84 per cent to Rs54.942 billion from Rs65.275 billion. Market capitalisation rose 0.53 per cent to Rs19.161 trillion from Rs19.060 trillion.
Market breadth remained positive with 279 companies advancing against 165 declining and 45 unchanged out of 489 traded.
Among the top gainers, Khairpur Sugar Mills Limited advanced Rs82.31 to close at Rs924.68, while Sapphire Fibres Limited rose Rs68.57 to close at Rs1,076.57. On the downside, PIA Holding Company Limited declined Rs221.71 to close at Rs18,021.29, while Blessed Textiles Limited shed Rs36.27 to close at Rs1,460.02.
According to Topline Sales Desk, the local bourse experienced a highly volatile session, with investors treading cautiously amid mounting geopolitical uncertainty. Market participants remained fixated on the anticipated second round of negotiations between the United States and Iran, expected to commence in Pakistan, while conflicting signals and rising tensions kept sentiment on edge.
Despite the jittery backdrop, the benchmark index displayed notable resilience. The choppy price action highlighted a classic tug-of-war between bullish momentum and risk aversion, as investors weighed hopes of diplomatic progress against the risk of further escalation.
On the index front, key heavyweights including MEBL, UBL, PSO, BAHL, HMB, and ATRL collectively contributed 757 points to the benchmark’s advance, underscoring the index-heavy nature of the rally and continued institutional interest in blue-chip names.
Cnergyico PK led ready market volumes with 83.675 million shares, gaining 43 paisas to close at Rs8.10. Bank of Punjab followed with 82.481 million shares, advancing 43 paisas to close at Rs37.03. Pak Refinery, WorldCall Telecom, K-Electric, Kohinoor Spinning, Unity Foods, Nishat ChunPower, Crescent Star Insurance, and Pak Int Bulk Terminal were also among the active counters.
In the futures market, 321 contracts were traded, with 190 advancing, 127 declining, and 4 unchanged.
