The Pakistan Stock Exchange (PSX) gained over 600 points. This was after military strikes, and the SBP kept rates steady.
Trading opened positively, with the KSE-100 index briefly dipping and surging past 65,000. It peaked at 65,624.72 points.
Market optimism stemmed from anticipated IMF talks and an SBP-confirmed $2 billion loan rollover—additional rollover hopes of $4 billion also uplifted spirits. The banking, fertiliser, and E&P sectors saw notable buying. The index maintained its rise, closing significantly higher.
Ahsan Mehanti from Arif Habib Corp linked gains to counter-terror actions and stable SBP rates. He added that IMF discussions and loan rollovers further buoyed the market. The KSE-100 index ended up 612.09 points, or 0.94%, at 65,502.60.
Topline Securities credited the unchanged policy rate for the positivity. The banking, fertiliser, and E&P sectors benefited the most. Key contributors included MCB Bank and Meezan Bank, among others, adding 319 points to the index. Banking stocks like Habib Metropolitan Bank and MCB Bank saw significant interest. Arif Habib Limited noted the session’s success was speculation-driven regarding the SBP rate decision.
Top performers included Dawood Hercules Corp and MCB Bank. JS Global’s Mubashir Anis Naviwala expected the bullish trend to continue. He recommended buying on dips in certain sectors.
Trading volume rose to 323.3 million shares, and the value traded was Rs17.1 billion. Out of 341 companies, 184 ended higher, and 140 fell.
WorldCall Telecom led the volume, followed by Telecard Limited and The Bank of Punjab. Foreign investors sold shares worth Rs465 million, NCCPL reports.
