Islamabad, Feb 19: The Pakistan Stock Exchange (PSX) continued its bullish run as the KSE-100 index recorded a gain of 253 points, maintaining investor optimism. On Wednesday, the benchmark index climbed by 253.96 points, marking a 0.22% increase and closing at 113,342.44 points, compared to the previous session’s 113,088.48 points.
Market activity saw a significant boost, with a total of 667.719 million shares changing hands, surpassing the 545 million shares traded in the prior session. The overall market value of shares also surged, reaching Rs25.734 billion from Rs20.741 billion in the last trading day, reflecting improved investor participation.
According to analysts at Topline Securities, the positive momentum stemmed from stronger-than-expected corporate earnings, which heightened investor confidence and triggered fresh buying across multiple sectors. Key contributors to the market’s rise included Fauji Fertilizer Company (FFC), Bank AL Habib (BAHL), Millat Tractors (MTL), Systems Limited (SYS), and Kohat Cement (KOHC), collectively adding 433 points to the index.
However, some major stocks like United Bank Limited (UBL), Lucky Cement (LUCK), Hub Power Company (HUBC), Habib Bank Limited (HBL), Pakistan Petroleum Limited (PPL), and Oil & Gas Development Company (OGDC) experienced declines, collectively dragging the index down by 619 points.
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A total of 451 companies participated in trading, with 236 stocks closing in positive territory, 146 recording losses, and 69 remaining unchanged. The most actively traded stocks of the day included K-Electric Limited, leading with 180.89 million shares at Rs4.88 per share, followed by Bank of Punjab with 53.76 million shares at Rs12.94 per share, and Fauji Cement with 38.11 million shares at Rs40.55 per share.
Sapphire Fibres Limited emerged as the top gainer, witnessing a surge of Rs59.03 per share to close at Rs1,098.99, while Unilever Pakistan Foods Limited secured the second spot with an increase of Rs41.96 per share, settling at Rs23,387.51.
On the downside, Lucky Cement Limited suffered the biggest drop, shedding Rs57.48 per share to close at Rs1,402.17. Blessed Textile Limited followed with a decline of Rs30.39 per share, closing at Rs313.73.
Overall, the stock market’s performance reflected strong investor sentiment, driven by corporate earnings and increased trading volumes, indicating a sustained bullish outlook.
