PSX sees strong buying, KSE-100 climbs nearly 2,000 points in early trade
The benchmark KSE-100 Index jumped about 1.2% to 169,970 points as investors poured into automobile, cement, banking, oil‑gas and power stocks, buoyed by fresh Eurobond inflows and a rebound from the previous day’s sell‑off.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Broad buying in Automobile, Cement, Banks, Oil & Gas and Power sectors signals a positive outlook; Buy bias on related tickers.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- AutomobilePositively affected
- CementPositively affected
- BanksPositively affected
- Oil & GasPositively affected
- PowerPositively affected
Companies
Companies Mentioned
- ARL· Positively affected · Buy bias
- HUBCO· Positively affected · Buy bias
- MARI· Positively affected · Buy bias
- OGDC· Positively affected · Buy bias
- PPL· Positively affected · Buy bias
- POL· Positively affected · Buy bias
- PSO· Positively affected · Buy bias
- MCB· Positively affected · Buy bias
- MEBL· Positively affected · Buy bias
- HBL· Positively affected · Buy bias
Mentions in This Briefing
Sectors: Automobile, Cement, Banks, Oil & Gas, Power — Positive · Buy bias. PSX tickers: ARL, HUBCO, MARI, OGDC, PPL, POL, PSO, MCB, MEBL, HBL. Broad buying in Automobile, Cement, Banks, Oil & Gas and Power sectors signals a positive outlook; Buy bias on related tickers.
Full Story
Open on Business Recorder## Market rally in early trade
On Tuesday morning the Pakistan Stock Exchange opened with a pronounced buying wave. By 9:35 am the KSE‑100 Index was at 169,970.23, up 1,999.58 points (1.19%) from the previous close.
## Sectors leading the advance
The surge was broad‑based. Key sectors that recorded strong buying included: - Automobile assemblers – stocks such as ARL rallied. - Cement – major players saw price gains. - Commercial banks – MCB, HBL, NBP and others traded in the green. - Oil & gas exploration and OMCs – OGDC, POL, PSO and related firms rose. - Power generation and refinery – HUBCO, PPL and other utilities posted gains.
## Heavyweight contributors
Index‑heavy stocks that led the upside were ARL, HUBCO, MARI, OGDC, PPL, POL, PSO, MCB, MEBL, HBL and NBP, all closing higher.
## Macro backdrop
The rally followed the arrival of Eurobond inflows that lifted the State Bank of Pakistan’s foreign‑exchange reserves to a record $21.4 billion. In the first week of September Pakistan raised about $3 billion through a dual‑tranche Eurobond issuance, its largest single‑offering to date.
The previous session had been marred by a sharp sell‑off after heightened US‑Iran tensions, attacks on shipping in the Strait of Hormuz and oil prices staying above $100 per barrel, which had raised concerns over fuel inflation and the monetary‑policy outlook.
## Global context
Asian markets were mixed as investors weighed Middle‑East risks and higher oil prices. The Federal Open Market Committee was set to begin its two‑day meeting, with markets pricing in a high probability of a U.S. rate hike.
## Outlook
The fresh buying suggests renewed confidence in Pakistan’s equity market, supported by stronger foreign‑currency inflows and a bounce back from geopolitical‑driven volatility.