KARACHI: The KSE-100 index rebounded 1,091.66 points, or 0.67 per cent, on Tuesday to close at 162,896.68 against the previous session’s close of 161,805.02, as buyers returned across most sectors following Monday’s sharp sell-off.
The market sentiment improved on easing geopolitical tensions and a decline in oil prices.
The index touched an intraday high of 164,309.65 before settling above its low of 162,563.58. The KSE-30 index gained 346.8 points, or 0.72 per cent, to end at 48,687.46.
Muhammad Hasan Ather, an analyst at JS Global, said the KSE-100 closed up, as easing geopolitical tensions drove a broad-based recovery. Falling global oil prices, combined with signals of renewed US-Iran diplomatic engagement, lifted sentiment off Monday’s lows.
He said that near-term direction hinges on geopolitical trajectory.
Ather said that Pakistan’s current account remains sensitive to oil, so sustained price softness materially improves the macro narrative. “Watch for SBP commentary and any escalation signals from the Middle East, those are the two live wires for the next session,” he said.
Volumes in the ready market eased to 391.94 million shares from 499.8 million in the prior session, a contraction of 21.57 per cent. Traded value, however, rose 18.2 per cent to Rs22.98 billion from Rs19.44 billion, while market capitalisation edged up 0.51 per cent to Rs18.08 trillion from Rs17.99 trillion.
Market breadth was positive, with 262 companies advancing against 171 declining and 47 remaining unchanged out of 480 traded.
Among the session’s top gainers, Khairpur Sugar Mills Limited climbed Rs158.45 to close at Rs1,742.91, while Nestle Pakistan Limited added Rs76.83 to end at Rs7,600. On the losing side, PIA Holding Company Limited surrendered Rs885.5 to Rs17,673.5, and Indus Motor Company Limited fell Rs30.3 to Rs1,963.25.
According to Topline Sales Desk, the local bourse witnessed a robust pullback session, recouping a portion of recent losses as investor confidence made a notable comeback. The benchmark index opened on a positive trajectory and sustained its upward momentum throughout the trading session.
Market sentiment remained buoyant amid encouraging developments in the ongoing negotiations between the United States and Iran, which helped ease geopolitical concerns. Additionally, a slight decline in international oil prices provided further comfort to investors by alleviating inflationary worries and strengthening expectations of macroeconomic stability, stated the desk.
On the stock-specific front, heavyweight names including UBL, BAHL, FFC, OGDC and PPL remained in the spotlight, collectively contributing 751 points to the benchmark index’s gain.
Cnergyico PK led the ready market in turnover with 23.95 million shares, declining 5 paisas to Rs8.38, while Engro Holdings followed with 22.94 million shares, easing Rs5.12 to Rs252.90. The remaining most-traded companies were Bank of Punjab, K-Electric Ltd, Agha Steel Industries, F Nat Equities, Hascol Petroleum, Intermarket Securities, Hira Textile and Wahdat Poultry Farm.
In the futures market, 318 companies were traded, of which 197 recorded gains, 109 posted losses and 12 closed unchanged.
