Bulls return to PSX in debt settlement hopes

Karachi:

A powerful trading rally on the Pakistani Stock Exchange (PSX) on Thursday, as the KSE-100 reference index climbed almost 1,500 points, reflecting the refurbished investor confidence.

The increase is mainly due to positive economic indicators, including expectations for further monetary relaxation by the Pakistani State Bank (SBP) and the reading of the 1.5% inflation for February 2025.

In addition, the optimism that surrounds a possible agreement with the International Monetary Fund (IMF), combined with a wider swelling momentum in Asian shares powered by hopes of pricing relief, pushed the Stock Exchange to a strong closure.

The main areas, such as car assembly, commercial banks and fertilizers, maintained the index in the green almost throughout the meeting.

Arif Habib Corp’s Ahsan Mehantti noted that stocks were closed Bullish, led by activity across the place, amid speculation before the SBP policy announcement on March 10.

Investor expectations for further monetary relaxation increased after T-Bill’s yields remained flat and a 1.5% inflation rate for February, he said. In addition, Taurus in Asian shares, driven by the hopes of pricing relief under Trump, played the role of catalyst for a positive closure in the PSX, he observed. At the end of the negotiation, the KSE-100 reference index climbed to 1,459.42 points, or 1.30%and settled to 113,713.18.

Topline Securities wrote in its review that the stock market had recorded a strong recovery, where the reference index increased to the high of the day of 1,617 units. The race was mainly driven by a sharp decline in global oil prices, which sank in many years of low levels, lifting the feeling of investors, he said.

In addition, the speculation surrounding the high -level IMF meetings on the settlement of long -term circular debt has further fueled optimism throughout the boat. The race was primarily under the guidance of Pakistan Petroleum, Oil and Gas Development Company (OGDC), Mari Petroleum, Pakistan State Oil and Sui Northern Gas Gas, who contributed 835 points, Topline added.

Arif Habib Limited (AHL) said in its report that with the market moving away from 112K on Thursday, it remained on the right track to hit “our weekly 115K target”.

A total of 69 shares increased, while 26 fell, where Pakistan’s oil (+7.53%), OGDC (+4.54%) and Mari Petroleum (+3.41%) were the largest contributors to indicators’ profits. In the disadvantage, Meezan Bank (-1.31%), Systems Limited (-1.23%) and Nestle (-1.83%) were the biggest signals, he said.

“After stuck in a row for a long time, the market is now ready for a more aggressive upward movement, with an expected one -sided price.

Ktrade Securities, on the market market, said the race is guided by the energy chain, powered by reports of possible resolution on the circular debt issue.

Growth has strengthened the feeling of investors, with the energy sector emerging as a key driver of growth. It informed investors to remain careful and focus on long -term investment strategies.

JS Muhammad Hasan Ather’s world analyst said the stock market saw a rally, with the reference index closing 1,459 units. The flow of news about the possible solving of the circular debt problem has kept market optimism, he said.

The outcome of the IMF review could provide further direction to the bourse and unlock additional funding, the analyst was expected.

Total trading volumes increased to 373.1 million shares compared to Wednesday’s 264 million.

The shares of 441 companies were negotiated. Of these, 220 stocks closed higher, 142 fell and 79 remained unchanged. The value of the shares traded during the day was 26.2 billion Rs.

Pakistan’s international terminal was the volume leader with a deal in 48.3 million shares, increasing RS0.48 to close to RS10.06. Fauji cement with 28.2 million shares, winning RS2.09 to close Rs42.02 and WorldCall Telecom with 22.6 million shares, up to RS0.02 to close in RS1.36. During the day, foreign investors sold shares worth $ 433 million, NCCPL said.