The local bourse extended its bullish run from last week, with investors firmly in the driver’s seat throughout the session. The benchmark index surged to an intraday high of 2,783 points and closed strongly at 187,761, registering a hefty gain of 2,662 points or 1.44 percent.
Investor sentiment remained upbeat, largely fueled by rising expectations of an imminent interest rate cut. Market participants increasingly priced in a 50bps reduction in the upcoming monetary policy, which kept buying interest alive and underpinned broad-based gains.
Adding to the optimism, select stocks including NML, AICL, IGIHL, and LUCK attracted notable investor attention following Topline’s report released yesterday, which highlighted these names as trading at attractive discounts to their SOTP valuations.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| BML | 5.45 | 5.7 | 5.03 | -0.58 | 246,263,366 |
| PIBTL | 22.59 | 22.97 | 21.06 | 1.66 | 104,625,115 |
| KEL | 6.55 | 6.65 | 6.45 | 0.15 | 63,311,050 |
| AHCL | 18.2 | 18.8 | 18.1 | -0.01 | 36,646,592 |
| PAEL | 62.73 | 64.05 | 62.39 | 0.04 | 35,774,076 |
| WTL | 1.74 | 1.79 | 1.73 | 30,455,271 | |
| CNERGY | 7.74 | 7.9 | 7.6 | 0.12 | 27,787,584 |
On the index front, ENGROH, UBL, HUBC, FFC, MEBL, and SRVI emerged as the top contributors, collectively adding 1,554 points to the benchmark.
Despite the strong index performance, trading activity remained relatively subdued. Total market volumes stood at 1,195 million shares, while the value of shares traded amounted to Rs. 63.7 billion.
BML led the volume chart, emerging as the most actively traded stock with 246 million shares.
