KARACHI: The Pakistan Stock Exchange (PSX) maintained its upward momentum on Friday as the KSE-100 Index gained 2,237.52 points, or 1.3 per cent, to close at 173,962.82 against the previous session’s close of 171,725.29.
The market performed positively post-Eid holidays on hopes for a breakthrough amid US-Iran negotiations. The index touched an intraday high of 174,106.35 and a low of 171,545.47 during the session. The KSE-30 Index advanced 649.19 points, or 1.26 per cent, to settle at 52,166.33.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed another strong session. The market opened on a strong footing as investor sentiment improved amid encouraging progress in ongoing US-Iran negotiations and declining international oil prices. Broad-based buying emerged following positive developments over the Eid holidays, with expectations of a potential diplomatic breakthrough continuing to drive optimism across the market.
On the corporate front, FFC surged Rs21.75 (up 4.0 per cent) after signing a $1.1 billion agreement with China’s Hualu to establish a coal-based fertiliser project under CPEC 2.0.
“Going forward, developments in US-Iran negotiations will remain a key market trigger, with improving diplomatic momentum and easing oil prices supporting investor sentiment. However, uncertainty around a final agreement may keep regional markets volatile in the near term,” said Najib.
Volumes in the ready market rose to 555.06 million shares, up 9.62 per cent from 506.36 million shares in the prior session. Traded value surged 31.24 per cent to Rs40.88 billion from Rs31.15 billion. Market capitalisation increased 0.93 per cent to Rs19.17 trillion from Rs18.99 trillion.
Market breadth was positive, with 298 companies advancing, 161 declining, and 31 remaining unchanged out of the total of 490. PIA Holding Company Limited led gainers, rising Rs669.12 to close at Rs18,598, while Khairpur Sugar Mills Limited added Rs220.86 to close at Rs2,429.42. On the downside, Sapphire Textile Mills Limited fell Rs21.74 to close at Rs1,335.68, and Ismail Industries Limited shed Rs13.15 to close at Rs1,956.
Nabeel Haroon, vice president international equity sales at Topline Securities Ltd. said a positive session was observed at the exchange post Eid. “This positivity can be accredited to optimism that the US and Iran are about to close a peace deal,” he said.
The top positive contributions to the index came from FFC, ENGROH, LUCK, EFERT, BAHL and HBL, as they cumulatively contributed +1,484 points to the index. Traded value-wise FFC (Rs3.73 million), DGKC (Rs2.34 billion), TRG (Rs2.3 billion), LUCK (Rs1.83 billion), NBP (Rs1.75 billion) and MLCF (Rs1.74 billion) dominated the trading activity.
TRG Pakistan Limited led with 34.19 million shares, advancing Rs5.97 to Rs69.17, followed by Bank of Punjab with 23.89 million shares, gaining 6 paisas to Rs34.59. WorldCall Telecom, Maple Leaf, Sui South Gas, Sitara Petroleum, Fauji Cement, PTCL, Lotte Chemical, and Pak Elektron also featured among the most active scripts.In the futures market, 318 companies were traded, with 195 recording increases, 121 decreases, and 2 remaining unchanged.
