KARACHI: The Pakistan Stock Exchange (PSX) benchmark KSE-100 index continued its upward trend, closing in the green on Tuesday, ARY News reported.
The KSE-100 index gained 366.32 points, or 0.4%, to settle at 92,304.32 points, up from the previous close of 91,938.01 points.
Trading volume in the ready market reached 752.66 million shares, up from 589.546 million shares in the previous session, with share values totaling Rs32.82 billion compared to Rs29.95 billion on the prior trading day.
Analysts at Topline Securities attributed the market’s positive sentiment to the State Bank of Pakistan’s recent decision to cut the policy rate. “The KSE-100 index continued its bullish momentum, reaching an intraday high of 576 points before closing at 92,304, up by 366 points or 0.40%. This positive trend is largely driven by the SBP’s Monetary Policy Committee (MPC) decision, marking the fourth consecutive rate cut, with a 250 bps reduction, bringing the policy rate down to 15%,” analysts noted.
Key stocks contributing to this rise included LUCK, HUBC, OGDC, SYS, and MTL, adding a total of 274 points, while UBL, HBL, BAHL, CHCC, and MEBL collectively deducted 143 points from the index.
Power Cement led trading volumes at the PSX with 66.26 million shares at Rs7.79 per share, followed by Sui South Gas with 51.96 million shares at Rs16.68 per share, and Fauji Foods Limited with 32.39 million shares at Rs10.57 per share.
Among the gainers, Indus Motor Company Limited recorded the highest increase, with its share price rising by Rs73.60 to close at Rs2,062.88, followed by Sazgar Engineering Works Limited with a Rs49.05 increase, ending at Rs1,081.39.
Unilever Pakistan Foods Limited saw a drop of Rs554.53 per share, closing at Rs18,667.33, while Rafhan Maize Products Company Limited experienced a decline of Rs63.26, ending at Rs7,442.09.
