KARACHI: The Pakistan Stock Exchange (PSX) extended its recovery drive for the third straight session, propelling the benchmark KSE 100 index above 114,000 on select buying on strong valuations on Tuesday.

Ahsan Mehanti of Arif Habib Corporation said that easing political noise, higher global crude oil prices, and speculations over monetary policy easing kept attracting buying interest from investors.

Topline Securities Ltd said the index reached an intraday high of 815 points before settling at 114,804, reflecting an increase of 574 points or 0.50pc day-on-day.

BF Biosciences Ltd from the pharma sector maintained its upward momentum, hitting its upper circuit, while Engro Holdings weighed down the index, contributing a loss of up to 145 points.

Major contributors to the positive movement included United Bank, Mari Petroleum, Systems Ltd, Attock Refinery, and PSO, which added 486 points.

Ali Najib, Head of Sales at Insight Securities, said consolidation continued at PSX as the index drifted in both directions amid a dearth of any positive or negative triggers.

However, the market activity remained strong as trading volume rose 13.09pc to 589.46 million shares while the traded value increased 15.19pc to Rs32.58bn day-on-day.

Stocks contributing significantly to the traded volume included Cnergyico PK (42.52m shares), Pakistan Refinery (38.06m shares), K-Electric (33.44m shares), WorldCall Telecom (29.52m shares) and Sui Southern Gas (26.67m shares).

The shares registering the most significant increases in their share prices in absolute terms were Hallmark Company (Rs84.54), Philip Morris (Rs70.90), Attock Refinery (Rs50.56), Unilever Foods (Rs50.00) and Abbott Laboratories (Rs45.72).

The companies registering significant decreases in their share prices in absolute terms were Nestle Pakistan (Rs58.04), Pakistan Engineering Company (Rs56.55), Ismail Industries (Rs50.00), Rafhan Maize (Rs32.61) and JDW Sugar Mills (Rs22.96).

Published in Dawn, January 15th, 2025

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

No time left
Updated 06 Feb, 2025

No time left

Climate change concerns continue to remain a footnote as politics dominates national discourse, surfacing only when disaster strikes.
Karim Aga Khan
06 Feb, 2025

Karim Aga Khan

PRINCE Karim Aga Khan was a man who straddled various worlds and cultures. Beyond his role as spiritual leader of ...
Cotton production
06 Feb, 2025

Cotton production

PAKISTAN’S cotton crop is on the ropes. The crop output has been falling since FY15, when the country harvested a...
Kashmir question
Updated 05 Feb, 2025

Kashmir question

The important thing is to continue dialogue process, on bilateral disputes, Kashmir issue, and move beyond rigid positions.
Letters from jail
05 Feb, 2025

Letters from jail

OVER the past week, former prime minister Imran Khan has directly addressed his concerns to both the chief justice ...
Agriculture tax
05 Feb, 2025

Agriculture tax

WITH Sindh and Balochistan finally approving changes to their agriculture income tax laws to harmonise their AIT...