PSX staged a strong recovery today, with the KSE-100 Index closing at 170,331, up 1,377 points (+0.81% DoD), reclaiming the key 170,000 level on a closing basis.
Investor sentiment improved amid easing geopolitical concerns, prompting broad-based buying from the opening bell and pushing the benchmark index sharply higher, said ๐๐ฅ๐ข ๐๐๐ฃ๐ข๐, Deputy Head of Trading of Arif Habib Ltd. While some gains were trimmed later in the session, sustained buying interest kept the market firmly in positive territory for most of the day.
On the macro front, media reports suggest that the Federal Government is likely to present the FY27 Budget on June 12 instead of the previously scheduled June 10, with a final decision expected within the next couple of days.
UBL, HUBC, HBL, LUCK, and MEBL emerged as the top contributors, collectively adding 526 points to the index. On the flip side, PSEL, MCB, THALL, PSX, and JDWS weighed on performance, jointly eroding 60 points.
Market activity remained robust, with traded volume rising to 765mn shares and turnover reaching PKR 27.1bn. TPLP led the volume chart with 56.5mn shares traded.
๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:
Going forward, improving geopolitical sentiment has provided near-term relief to the market. However, investors are likely to remain focused on regional developments and upcoming budget announcements, which may continue to influence market direction in the coming sessions.