The Pakistan Stock Exchange (PSX) experienced a notable surge on Thursday, gaining 331 points to reach 80,564.95 during intra-day trading at 11:50 AM, up from the previous session’s close of 80,233 points. This 0.41 per cent increase reflects a continued bullish trend, enhancing investor confidence and demonstrating robust market activity.
Market highlights
The PSX’s record-breaking performance is supported by expectations of substantial dividend payouts and the anticipated securing of a loan deal with the International Monetary Fund (IMF) within the next month. This optimistic outlook has driven positive sentiment across the market.
Additionally, favourable trade figures have contributed to the market’s momentum. Exports increased by 10.54pc to $30.7 billion, while the trade deficit narrowed by 12.3pc to $24.09 billion in the fiscal year 2023-24. These economic indicators have reinforced investor confidence, leading to widespread positive activity across all sectors.
Closing figures
The index ultimately settled at 80,234 points, marking a 681-point increase from the previous day. Trading volumes saw a significant rise, reaching 536.6 million shares, compared to Tuesday’s tally of 413.2 million. The total value of shares traded during the day stood at Rs22.7 billion.
Out of 447 companies whose shares were traded, 256 stocks closed higher, 135 fell, and 56 remained unchanged. The banking sector, in particular, attracted strong investor interest, with Samba Bank, Askari Bank, National Bank of Pakistan (NBP), Habib Bank Limited (HBL), and JS Bank ending the day on a positive note.
Key contributors
Key positive contributors included HBL, Pakistan Oilfields, Hubco, NBP, and Systems Limited, which collectively added 388 points to the index, according to Topline Securities. HBL (+5.15pc), Pakistan Oilfields (+4.35pc), and Hubco (+1.69pc) were among the top performers, as highlighted by Arif Habib Limited (AHL).
Analyst Mubashir Anis Naviwala recommended that investors view any market downturn as an opportunity to buy stocks in the cement, exploration and production, and technology sectors, suggesting continued optimism for these industries.
