Stocks rally in Karachi as KSE-100 gains 1,377 points

KARACHI: The benchmark KSE-100 Index concluded Tuesday’s trading session on a strong note, closing at 170,330 points, up by 1,377 points (+0.81%).

Market sentiment remained positive, supported by a decline in international crude oil prices following the easing of geopolitical tensions between Iran and Israel. The improving regional outlook helped strengthen investor confidence and encouraged broad-based buying activity.

Although the market opened sharply higher, some gains were pared during the session as investors engaged in profit-taking. Nevertheless, sustained buying interest successfully absorbed selling pressure, enabling the index to remain firmly in positive territory throughout the day.

On the index contribution front, heavyweight stocks including UBL, HBL, HUBC, LUCK, and MEBL collectively contributed 526 points to the benchmark index’s gain.

Market participation remained healthy, with total traded volume reaching 768 million shares and total traded value amounting to PKR 27 billion.

More read, Choppy session ends deep in the red amid global jitters

Earlier, the local bourse witnessed a choppy trading session today, mirroring weakness across international equity markets as escalating geopolitical tensions dampened investor sentiment.

The benchmark index remained under pressure throughout the session, plunging to an intraday low of 2,046 points before settling at 168,953 level, down 1,525 points or 0.89%.

The negative momentum largely tracked global market trends amid heightened geopolitical uncertainty, driven by violations of the ceasefire and renewed attacks, which reignited concerns across financial markets and kept investor risk appetite subdued.

On the index contribution front, heavyweight stocks remained under pressure, with UBL, ENGROH, FFC, HBL, HUBC, and PPL collectively eroding approximately 561 points from the benchmark index.

Market participation declined compared to the previous session, with total traded volume clocking in at 657 million shares, while traded value stood at PKR 22.5 billion. TPLP emerged as the volume leader, with 60 million shares changing hands during the session.