KARACHI: The Pakistan Stock Exchange witnessed a strong bullish session on Thursday as the benchmark KSE-100 index surged 3,683.03 points, or 2.23 per cent, to close at 168,514.45 against the previous session’s close of 164,831.42.
The market witnessed bullish momentum amid positive developments in the geopolitical situation and declining oil prices.
The index touched an intraday high of 168,869.18 and a low of 166,638.56 during the session. The KSE-30 index similarly posted a sharp gain of 1,222.35 points, or 2.48 per cent, to settle at 50,579.18.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed a strong session. During the session, investor confidence returned strongly to the local bourse due to rumours about ongoing US-Iran negotiations and a decline in international oil prices. The fall in oil prices, amid expectations of a constructive outcome in the US-Iran talks, further strengthened overall market momentum.
Media reports suggest that Iran said the latest proposal from the US has partly bridged the gap between the warring sides, as they seek to turn a fragile ceasefire into a peace deal.
“Going forward, US-Iran developments will remain a key market catalyst, with ongoing diplomatic engagement and backchannel talks keeping investors focused on geopolitical headlines,” Najib said.
Trading volumes in the ready market reached 729.4 million shares, up 88.78 per cent from 386.39 million shares in the previous session. Traded value rose 73.87 per cent to Rs34.99 billion from Rs20.13 billion, while market capitalisation increased 2.29 per cent to Rs18.66 trillion against Rs18.24 trillion recorded in the prior session.
Market breadth remained overwhelmingly positive, with 330 stocks advancing, 120 declining, and 40 finishing unchanged out of 490 traded companies.
PIA Holding Company Limited led the gainers, rising Rs524.5 to close at Rs18,300, followed by Khairpur Sugar Mills Limited, which added Rs191.72 to finish at Rs2,108.92. On the losing side, JDW Sugar Mills Limited shed Rs14.21 to close at Rs900.66, while Hoechst Pakistan Limited declined Rs11.54 to settle at Rs4,010.
According to Topline Sales Desk, the bulls stood firm in the trading session as investor confidence returned strongly to the local bourse, driven by encouraging developments in the ongoing US-Iran negotiations and a decline in international oil prices. Growing optimism over easing geopolitical tensions lifted overall sentiment, prompting aggressive buying across key sectors.
The benchmark index remained firmly in the green throughout the session, maintaining strong upward momentum. The strong recovery reflected renewed optimism and firm bullish conviction among market participants.
The rally was primarily fuelled by heavyweight stocks, including UBL, FFC, LUCK, HBL and HUBC, which collectively contributed 1,608 points to the benchmark index, playing a key role in sustaining the market’s upward trajectory.
Hascol Petroleum topped the turnover table with 57 million shares, gaining 97 paisas to close at Rs23.97, followed by Sitara Petroleum with 56.52 million shares, advancing Rs1.89 to close at Rs20.79. Aisha Steel Mill, Pervez Ahmed Company, Bank of Punjab, K-Electric, WorldCall Telecom, Globe Residency Modaraba, TRG Pakistan, and TPL REIT Fund I also featured among the session's most active counters.
In the futures market, 318 contracts were traded, with 288 recording increases, 24 decreases, and 6 remaining unchanged.
