KARACHI: The benchmark KSE-100 Index extended its upward momentum for a second consecutive session on Tuesday, closing higher despite a volatile trading day marked by geopolitical concerns and cautious investor sentiment.
The index settled at 164,742.47, gaining 793.53 points, or 0.48 per cent, from the previous close of 163,948.94. During the session, it touched an intraday high of 164,920.35, while selling pressure in early hours dragged it to a low of 162,532.99. Market participants remained wary at the outset due to escalating global tensions, particularly surrounding developments between the US and Iran, but late-session buying helped the market recover and finish in positive territory.
The broader KSE-30 Index also recorded modest gains, rising 94.73 points, or 0.19 per cent, to close at 49,491.5. Trading activity, however, declined significantly compared to the previous session. Total volumes in the ready market dropped 34.92 per cent to 453.22 million shares, down from 696.7 million shares a day earlier. Similarly, the total traded value fell 34.72 per cent to Rs22.79 billion from Rs34.91 billion. Despite the lower activity, overall market capitalisation increased by 0.27 per cent to Rs18.17 trillion, reflecting gains in select heavyweight stocks.
Market breadth remained largely balanced, with 221 stocks advancing, 210 declining and 53 remaining unchanged out of a total of 484 traded companies. Among the top gainers, Rafhan Maize Products Company Limited surged by Rs65.30 to close at Rs9,455.33, while The Premier Sugar Mills added Rs39.46 to settle at Rs545.96. On the losing side, PIA Holding Company Limited-B witnessed a sharp decline of Rs745.00 to close at Rs16,705.00, and Blessed Textiles Limited fell by Rs97.00 to Rs1,197.00.
According to Naveed Nadeem, senior equity trader at Topline Securities Limited, the session remained highly volatile, with the index swinging sharply between gains and losses before stabilising. He noted that uncertainty linked to US-Iran developments continued to weigh on investor confidence.
Index-heavy stocks, including Hub Power Company, United Bank Limited, Lucky Cement, Indus Motor Company and Kohinoor Textile Mills, remained under selling pressure and collectively dragged the index down by 167 points during the session.
On the volume chart, Bank of Punjab led the market with 45.25 million shares traded, gaining 57 paisas to close at Rs35.06. Sui Southern Gas Company followed with 30.89 million shares, rising Rs1.13 to Rs27.65. Other actively traded stocks included WorldCall Telecom, Hascol Petroleum, K-Electric, Cnergyico PK, Dewan Farooque Spinning, Trust Brokerage, Pakistan International Bulk Terminal and Pakistan Refinery Limited.
In the futures market, trading remained limited, with 339 contracts exchanged. Of these, 171 contracts recorded gains, 162 declined, and 6 remained unchanged.
