Karachi:
The Pakistan Stock Exchange (PSX) ended the trading week on a high note, continuing its aggressive upward trajectory. On the last business day of the week, the benchmark KSE-100 index gained a massive 802.03 points (0.48%), closing at an impressive 167,085.58.
Driven by major developments in national stability and economic support from Saudi Arabia, investor confidence returned to the trading floor, pushing volumes significantly higher than the preceding session.
Key Market Triggers: Why the Bulls Took Charge:
According to the evening market data, two primary catalysts fueled today’s rally:
- Strategic Clarity on National Defence: Investor sentiment strengthened following the Ministry of Defence’s notification appointing COAS Field Marshal Asim Munir as Pakistan’s first Chief of Defence Forces (CDF). The market reacted positively to this structural clarity, interpreting it as a sign of continued stability.
- Economic Relief via Saudi Arabia: The Saudi Development Fund approved the rollover of its US$3 billion deposit for another year. This critical economic buffer alleviated pressure on the external account, giving local investors the green light to accumulate positions.
Market Statistics: Volume & Value Breakdown:
The liquidity crunch seems to be easing as participation widened across the board.
- KSE-100 Volume: 225.68 Million shares.
- PSX All-Share Volume: The broader market saw an uptick, reaching 682 million shares, up from 608 million in the previous session.
- Value Traded: The total value traded in the All-Share index stood at PKR 41.3 billion, signaling healthy capital turnover.
Indices Summary:
Index: KSE-100
Current Level: 167,085.58 points
Change (Points):+802.03
Change (%): +0.48%
Index: KSE-30
Current Level: 50,772.01 points
Change (Points): +235.95
Change (%): +0.47%
Index: KMI-30
Current Level: 239,923.34 Points
Change (Points):+1,634.32
Change (%): +0.69%
Note: The KMI-30 (Islamic Index) outperformed the benchmark, indicating strong buying flows in Shariah-compliant equities.
Top Performers: The Heavyweights Lifting the Index:
The rally was led by the Fertilizer and Exploration & Production (E&P) sectors. Fauji Fertilizer Company (FFC) was the star of the show, contributing a massive 175 points to the index single-handedly.
Top 5 Positive Index Contributors:
- FFC: +175.37 Points (Price: 567.45)
- PPL: +152.96 Points (Price: 217.34)
- OGDC: +85.92 Points (Price: 274.58)
- UBL: +73.14 Points (Price: 376.35)
- SYS: +63.96 Points (Price: 153.39)
On the flip side, banking stocks saw some profit-taking, with MCB (-33.48 pts) and FABL (-29.00 pts) acting as the primary drags on the index.
Volume Leaders: Tech & Penny Stocks Dominate:
Retail favorites dominated the volume charts, with the Technology and Communication sector seeing massive churn. Telecard Limited (TELE) led the volumes, contributing nearly 8.5% of the total market volume alone.
- TELE: 58.07 Million Shares (+6.13%)
- FNEL: 44.57 Million Shares (+3.76%)
- FDPL: 39.94 Million Shares (+4.40%)
- PIAHCLA: 37.81 Million Shares (+3.68%)
- WTL: 35.32 Million Shares (+0.55%)
Sector Watch & Technical Outlook:
The Sector Performance chart highlights that Investment Banks and Technology stocks commanded the highest interest relative to market capitalization, followed closely by Cement and Banks.
The Top Advancers list was dominated by stocks hitting their upper circuit breakers, with companies like FPJM (+10.87%), SBL (+10.04%), and SINDM (+10.02%) providing handsome returns for day traders.
What to Expect Next Week?
With the KSE-100 closing firmly above the 167,000 psychological barrier and the “Weekend Effect” likely to be positive due to the confirmed Saudi rollover, the market is poised to test new highs. Traders should watch for a continuation in the E&P sector and potential recovery in Banking stocks that saw correction today.