The Pakistan Stock Exchange (PSX) is witnessing strong bullish momentum as the KMI-30 Index posts an impressive recovery, climbing 3,522 points during the trading session. The index is opening at 258,938.61 and steadily gaining strength to touch an intraday high of 264,888.98 before settling at 261,050.23, reflecting a healthy 1.37 percent increase.
Market analysts are observing renewed investor confidence, supported by aggressive buying in heavyweight stocks. Engro Corporation is emerging as the top contributor, adding 732.93 points to the index, followed closely by Lucky Cement with 719.57 points. Meezan Bank is contributing 507.95 points, while Mari Petroleum and Pakistan Petroleum Limited are also supporting the upward trajectory with significant gains.
Trading activity remains robust, with index constituent volume reaching 116.63 million shares, indicating strong participation from both institutional and retail investors. From a broader performance perspective, the index is showing a 4.19 percent fiscal year-to-date gain and a 5.03 percent rise on the calendar year basis, signaling sustained market stability.
However, some pressure is coming from select stocks including Fauji Fertilizer Company, Sui Southern Gas, and Pakistan Refinery Limited, though their negative impact remains limited compared to the strong buying momentum.
Market observers say the continued improvement in macroeconomic indicators and corporate earnings expectations are keeping sentiment positive, suggesting further upside if volumes remain consistent.