The Pakistan Stock Exchange witnessed a bullish trend during trading on Thursday, and the KMI-30 index closed with a gain of 2.17pc, indicating improved investor confidence.
According to official data, the KMI-30 index rose 5,137.60 points to close at 242,349.77 points. The index also touched a high of 243,013.88 points during the day, while the low was 240,051.33 points.
The positive trend in the market was mainly due to significant buying in the energy, fertilizer and cement sectors. According to market observers, investors showed interest in buying shares in the context of recent economic indicators, possible policy stability and corporate results.
Lucky Cement contributed the most to the index and added 524.86 points. Fauji Fertilizer Company and HUBCO also showed strong performance and added 413.60 and 330.55 points respectively. Similarly, Engro Holdings and Pakistan Petroleum Limited also played a significant role in keeping the overall direction of the market positive.
On the contrary, Sazgar Engineering was the only significant dragger that had a negative impact of 10.76 points on the index. However, its impact on the overall direction of the market was limited as most of the large stocks closed in the positive zone.
According to the data, the constituent volume was recorded at 110.71 million shares, which shows the activity of investors. Since the beginning of the financial year, the KMI-30 index has increased by 31.08 percent, which market experts are calling a significant recovery.
Analysts say that if economic reforms and financial discipline are maintained, the investment trend in the stock market can further improve. According to them, external financial assistance, stability in foreign exchange reserves and reduction in inflation can further strengthen investor confidence.
On the other hand, some experts have warned that global economic uncertainty, geopolitical tensions and fluctuations in crude oil prices can affect the Pakistani market. They said that investors need to adopt a cautious strategy.
At the end of the market, the investor community termed this bullish trend as positive and expressed hope that the market will remain stable in the coming days.
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