The Pakistan Stock Exchange (PSX) saw a significant upward shift on Tuesday, with the 100-Index gaining 671.73 points, marking a positive change of 0.85%. The index closed at 79,286.74 points, a notable increase from 78,615.00 points recorded on the previous trading day.
In a detailed analysis, brokerage house Topline Securities attributed this bullish trend to robust institutional buying in blue-chip stocks. The report emphasized heightened investor interest, particularly in the cement sector, which saw increased activity in anticipation of the upcoming monetary policy meeting scheduled for September 12. Market expectations are centered around a potential rate cut, further driving investor enthusiasm.
Trading activity was notably active, with a total of 509,490,385 shares changing hands on Tuesday compared to 491,124,197 shares the previous day. The total value of shares traded surged to Rs. 13.763 billion, up from Rs. 10.124 billion on the last trading day. This increase in both volume and value reflects a positive investor sentiment and growing market confidence.
Among the 436 companies that transacted shares in the stock market, 202 recorded gains, while 170 experienced losses. The share prices of 64 companies remained unchanged, indicating a mixed but overall positive trading environment.
WorldCall Telecom emerged as the top trading company with 117,010,305 shares traded at Rs. 1.52 per share. It was followed by Kohinoor Spinning, which saw 57,119,736 shares traded at Rs. 10.06 per share, and Agritech Limited, with 18,160,711 shares changing hands at Rs. 35.31 per share.
In terms of individual stock performance, Hoechst Pakistan Limited experienced the highest increase, with its share price rising by Rs. 137.38 to close at Rs. 2,069.23. Unilever Pakistan Foods Limited followed with a Rs. 68.99 increase in its share price, closing at Rs. 17,368.99.
Conversely, Hallmark Company Limited faced the largest decline, with its share price falling by Rs. 104.68 to close at Rs. 999.96. Khyber Textile Mills Limited also saw a significant drop, with its share price decreasing by Rs. 60.65 to close at Rs. 545.81.
The trading day highlighted a dynamic shift in market sentiment, driven by institutional buying and sector-specific performance. The anticipation of a rate cut by the central bank has clearly had a positive impact on investor confidence, particularly in sectors expected to benefit from such a move.
Overall, the PSX’s performance on Tuesday underscores a resilient market with growing investor interest and a bullish outlook. The upcoming monetary policy meeting is anticipated to further influence market dynamics, potentially continuing the positive trend observed.