The Pakistan stock market experienced a surge on Monday, with the KSE30 index climbing by 9.77pc, closing at 35,838.80. Meanwhile, the KSE100 index also saw an increase, closing at 117,297.73, up by 9.45pc from the previous session.
Stocks analyst and Director, Pakistan Stock Exchange Ahmed Chinoy said that the PSX witnessed a bullish trend throughout the day, with the benchmark index opening above the 117,000-point mark.
He said the day’s performance was reflective of renewed investor confidence not just in the market, but in the broader political and institutional landscape of the country.
‘This level of trading activity indicates that investor sentiment is aligned positively with both economic and national stability,’ Chinoy said while speaking to PPI. ‘I believe this upward trend is likely to continue for another day or two.’
Market analysts also observed heightened trading activity post-closing hours, a sign of sustained interest among both retail and institutional investors.
‘The momentum we’re seeing suggests continued positivity in the short term,’ Chinoy added.
The market’s sharp rally comes amid expectations of economic reforms, a stable political outlook, and renewed foreign investor interest, all of which have played a crucial role in driving volumes and valuations upward.
The ready market saw a flurry of activity, with 405 companies registering gains, while 26 companies faced losses and 31 remained unchanged, bringing the total number of active companies to 462. The future market mirrored this positive trend with 314 companies posting gains, one company declining, and three remaining unchanged.
The overall market turnover for the regular market reached an impressive 732,877,141 shares, with a traded value of Rs30,382,250,475, marking a substantial increase from the previous session. The market capitalisation also witnessed a boost, rising to Rs14,016,516,567,171.
K-Electric Ltd. led the pack in terms of turnover with 114,464,625 shares traded, closing at Rs4.56. Other significant turnovers were observed in At-Tahur Ltd. and WorldCall Telecom, with closing rates of Rs44.01 and Rs1.32, respectively.
Unilever Pakistan Foods Limited and PIA Holding Company LimitedB emerged as top gainers, with Unilever’s share price increasing by Rs904.44 to close at Rs22,877.32, while PIA Holding saw a rise of Rs773.52, closing at Rs8,508.75. On the flip side, Premium Textile Mills Limited and Sapphire Textile Mills Limited experienced declines, with their rates decreasing by Rs9.89 and Rs9.43, respectively.
Overall, the market’s bullish momentum indicates a positive investor sentiment, fostering confidence in the country’s economic outlook.