Bulls take charge at PSX as KSE-100 gains over 1,200 points

Easing geopolitical tensions, coupled with a decline in global oil prices, created a favourable backdrop for the Pakistan Stock Exchange (PSX), encouraging bullish sentiment and drawing buyers into the market early in the session on Tuesday. At close, the benchmark KSE-100 index registered a gain of 1,225.99 points, or 0.80% and settled at 153,966.36. During the session, the benchmark index displayed notable volatility, touching an intra-day high of 157,442.68 before witnessing profit-taking that pulled it down to an intra-day low of 153,382.01. Despite the fluctuations, the market managed to close in positive territory, reflecting underlying resilience. Read: Dollar stands tall as markets turn cautious on Middle East war The upward momentum was largely supported by improved investor confidence, driven by external macroeconomic factors, particularly the decline in global oil prices, which eased concerns over inflationary pressures.  At 11.34am, the index was hovering around 154,659.95, up by 1,919.58 points (1.26%), reflecting strong bullish momentum in the market. Market participation remained healthy, with activity observed across banking, energy, and fertiliser sectors, which contributed significantly to the index’s upward movement. However, late-session profit-taking led to some trimming of gains, highlighting cautious optimism among investors. Analysts suggest that sustained stability in global markets and continued easing of geopolitical risks could further support bullish momentum in the coming sessions. KTrade Securities wrote in its market wrap that the KSE-100 index closed at 153,966 points, up 1,225 points (+0.8% DoD), delivering a steady session as the market entered the first day of futures rollover week. Despite typical rollover pressure, sentiment remained firm, supported by positive global cues and reports of Pakistan potentially playing a diplomatic role between the United States and Iran.  Early strength was seen in banking stocks, while broader support came from investment banks, technology, and cement sectors. Key contributors included Engro Holdings, Fauji Fertiliser, Lucky Cement, Systems Limited and Hub Power. Read More: PSX ends lower ahead of Eid holidays The session reflects a shift from last week’s weakness, with selling pressure appearing largely absorbed.  However, Brent near $100 remains a key risk. Outlook remains cautiously constructive, with preference for defensive plays including banks, E&Ps, and high dividend stocks, while high beta and speculative names are best approached selectively until clearer direction emerges, KTrade stated. Overall trading volume increased to 375.3million against last week’s close of 326.6 million. Shares of 485 companies were traded. Of these, 277 closed higher, 141 fell and 67 remained unchanged.  K-Electric was the volume leader with trading in 35.9million shares, rising Rs0.02 to close at Rs7.64.