PSX Market Wrap: KMI-30 surges over 4% in strong bullish session

Investors witnessed a strong rally on the Pakistan Stock Exchange on Tuesday as the KMI-30 index surged 8,628.34 points. The benchmark index closed at 220,798.52 points, reflecting a 4.07% gain in a single trading session.

The index started the day at 211,754.95 points. Initial buying interest pushed the market higher, and the index soon crossed the key resistance level. It touched a high of 222,866.38 points during the session, while the low of the day was recorded at 211,429.52 points. The wide trading range indicates strong volatility but with a clear upside direction.

Trading activity remained healthy, with the total volume of the index components recording 207.58 million shares. Analysts noted that institutional buying in major sectors such as fertilisers, energy and banking played a major role in lifting the market.

ENGRO led the rally by contributing 1,629.83 points to the index. FFC followed closely with a positive contribution of 1,448.50 points. MEBL added 1,022 points, while MARI and HUBC also supported the bullish momentum. These companies are considered fundamentally strong and are often preferred by long-term investors.

Despite the strong rally, a few stocks faced selling pressure. PAEL recorded the biggest negative impact, dragging the index down by 195.03 points. SSGC, MLCF, FFL, and SERL also remained under pressure but did not significantly alter the overall upward trend.

The year-to-date performance of the KMI-30 index has improved to 19.42%, indicating a strong recovery during the current fiscal. However, the calendar year-to-date return remains negative at -11.16%, highlighting the earlier market correction.

Market observers believe that improving macroeconomic indicators and expectations of policy stability have boosted investor confidence. If this positive sentiment continues, the market could test higher levels in the coming days.

Experts recommend that investors make informed decisions and focus on long-term investment strategies rather than reacting to short-term fluctuations.

The trading session on March 3 clearly reflected renewed optimism in Pakistan’s equity market, with strong buying in leading stocks pushing the KMI-30 index sharply higher.