Market Review: Consolidation Near Record Highs
Staff Report:
Islamabad: The local bourse witnessed a consolidation phase in today’s trading session as the market hovered close to its all-time high levels. The index moved within a wide range, recording an intraday high of 636 points and a low of 398 points, before closing at 119,689, up 40.49 points or 0.03%.
The steady upward bias was supported by investor optimism following the release of a detailed IMF report, which offered a clearer picture of the country’s macroeconomic trajectory and policy direction.
Adding to the positive sentiment, fresh developments on resolving the circular debt issue once again made headlines, drawing investor interest to key energy and gas sector players including PPL, OGDC, PSO, SNGP, and SSGC.
major storm in pakistan stock market
On the upside, heavyweights such as ENGROH, PPL, and PSO led the charge, collectively contributing 246 points to the index. On the flipside, MARI, UBL, and LUCK collectively erased 224 points from the benchmark.
Market participation declined, with total traded volume slipping to 424 million shares and a traded value of PKR 22.2 billion. FFL topped the volume chart, with 60.6 million shares exchanged.
With the index trading near record territory, the market appears to be taking a breather, while maintaining its bullish undertone—awaiting stronger triggers to potentially break new ground.
