KARACHI: The local bourse witnessed another bullish trading session today, with investors maintaining a positive stance throughout the day.
The benchmark index surged to an intraday high of 1,358 points before settling at 181,398, gaining 887 points or 0.49% on a day-on-day basis.
The upward momentum was primarily fueled by the continued decline in international crude oil prices, which improved the macroeconomic outlook and strengthened investor confidence. Further supporting sentiment was growing optimism surrounding the anticipated signing of a peace agreement MoU between Iran and the USA, reportedly scheduled for Friday. The development raised hopes of easing geopolitical tensions in the region, encouraging risk-taking activity and broad-based buying across key sectors.
On the index contribution front, index heavyweights HUBC, SRVI, FFC, ENGROH, and PPL emerged as the primary drivers of upside momentum, collectively contributing 679 points to the benchmark’s gain.
Market participation with total traded volume 1,241 million shares and total traded value amounting to PKR 58 billion reflecting strong investor conviction and broad-based market engagement across the board. KOSM emerged as the top volume leader with 230mn shares exchanging hands.
More read, Stocks end slightly up as KSE-100 gains 118 points in choppy trade
Earlier, the benchmark KSE-100 Index closed Wednesday’s session on a marginally positive note, settling at 180,511 points, up 118 points (+0.07%) from the previous close.
Despite ending in the green, the market witnessed significant intraday volatility as investors engaged in profit-taking following the strong rally recorded over the previous two trading sessions.
The index touching an intraday high of 181,358 points and a low of 179,564 points. Market activity remained robust, with total traded volume exceeding 1.23 billion shares and traded value reaching approximately Rs69.2 billion.
