Pakistan Stocks Exchange (PSX) on Wednesday opened in green following an over 1600 points gain on Tuesday.
Soon after the trading started, the benchmark KSE-100 soared by 283 points to 113294 with a positive change of 0.25 percent. 182 companies are currently active of which 145 are in green 25 are in red and 10 are neutral.
On Tuesday, the benchmark KSE-100 index surged by 1,632.41 points, or 1.47 per cent, to 113,010.38 points, up from the 111,377.97 points recorded in the last session. The highest index of the day remained at 113,233.41 points, while the lowest level was recorded at 111,834.21 points.
Ahsan Mehanti, an analyst at Arif Habib Corp, said, “Stocks closed bullish as investors weigh robust economic data on $3 billion remittances surging by 25.2 per cent YoY in January 2025.” He said that surging global crude oil prices, robust earnings in fertiliser, cement and banking sectors and expectations for further SBP policy easing amid thin inflation played a catalyst role in the bullish close at the PSX.
The KSE-30 index increased by 596.78 points or 1.72 per cent to 35,394.08 points against 34,797.30 points. Traded shares increased by 71 million shares to 486.935 million shares from 415.16 million shares. The trading value rose to Rs30.381 billion from Rs23.947 billion. Market capital expanded to Rs13.946 trillion against Rs13.773 trillion. Of the 447 companies active in the session, 264 closed in green, 117 in red, and 66 remained unchanged.
Analyst Maaz Mulla at Topline Securities said bulls stood firm in Tuesday’s trading session as the local bourse witnessed strong upward momentum, making an intraday high of 1,855 points before closing at 113,010 — up by 1,632 points (1.47 per cent).
“This positive trend can be attributed to the fading selling pressure from local institutions, as indicated by NCCPL data released yesterday, which allowed the market to sustain its gains,” he said. “Additionally, better-than-expected corporate earnings bolstered investor confidence, driving fresh buying across key sectors.”
The uptick was largely driven by strong performances from ENGROH, PPL, FFC, OGDC and MARI, which collectively contributed 851 points to the index.
The highest increase was recorded in Unilever Pakistan Foods Limited, which rose by Rs183.14 to Rs23,415.42 per share, followed by Sapphire Textile Mills Limited, which increased by Rs34.32 to Rs1,200 per share. A significant decline was noted in Rafhan Maize Products Company Limited, which fell by Rs124.95 to Rs9,365.05 per share; Philip Morris (Pakistan) Limited followed it, which closed lower by Rs20.87 to Rs661.61 per share.
