Automobile assemblers, banks, fertilizer, and oil & gas stocks lead investors’ interest
KARACHI:
The Pakistan Stock Exchange (PSX) exhibited a strong recovery session, with the benchmark KSE-100 Index gaining 4,267 points to close at 168,893.
The trading session began on a negative note, as persistent selling pressure pushed the index to an intraday low of 162,954 points. However, the decline attracted aggressive value buying, triggering a sharp rebound and broad-based recovery across key sectors.
“Significant buying interest was observed in automobile assemblers, commercial banks, fertiliser, oil & gas exploration, oil marketing companies, power generation, and refinery sectors,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
On the macroeconomic front, Finance Minister Muhammad Aurangzeb reassured markets regarding the rollover of UAE deposits, terming related concerns unfounded.
He reiterated the government’s commitment to the IMF program, emphasising progress on agreed benchmarks, particularly tax collection and FBR performance.
Major contributors to the index rally included FFC, ENGROH, HUBC, PPL, HBL, PSO, LUCK, FATIMA, OGDC, and BOP, collectively adding 2,494 points.
Market activity remained healthy, with total volumes of 687.8 million shares and a turnover of Rs35.7 billion. UNITY led volumes, with 71.4 million shares traded.
As the market approaches the final trading session of the week, a close above the 170,000 level will be crucial to sustain positive momentum heading into next week.
