PSX Rebounds 641 Points as Refinery Stocks Lead Oct 14 RallyBusiness

Nawaz Ali of JS Global Capital Limited noted that the session’s positive performance was driven primarily by buying interest in refinery stocks, while overall participation remained subdued. He observed that investors continued to adopt a cautious stance because of the absence of fresh market triggers and persistent geopolitical uncertainty. Pakistan Refinery Limited led the rally, closing at Rs99.19 against the previous session’s Rs93.19, gaining Rs6.00 on turnover of 42.297 million shares. Cnergyico PK also advanced, closing at Rs12.71 compared with Rs12.29 previously, an increase of Rs0.42 on 41.183 million shares traded.

Market participation increased substantially in the ready market. Total turnover rose to 585.895 million shares from 383.747 million shares in the previous session, an increase of 202.148 million shares, or 52.68 percent. Traded value climbed to Rs20.074 billion from Rs13.105 billion, increasing by Rs6.969 billion, or 53.18 percent. WorldCall Telecom led ready-market turnover with 87.348 million shares, closing unchanged.

Total market capitalisation increased by Rs65.753 billion to Rs18.391 trillion from Rs18.326 trillion in the preceding session. Market breadth remained positive, with 256 companies advancing, 200 declining and 45 closing unchanged out of 501 active issues. In terms of ready-market price movements, PIA Holding Company Limited-B recorded the largest gain, rising by Rs487.50 to close at Rs14,487.50, while Unilever Pakistan Foods Limited followed, gaining Rs417.18 to settle at Rs25,444.18. On the declining side, Rafhan Maize Products Company Limited recorded the largest fall, shedding Rs38.95 to close at Rs8,535.93, and Blessed Textiles Limited declined by Rs35.65 to settle at Rs794.35.

Analysts said selective buying in energy and refinery stocks could continue to provide support to the market, but a broader and sustained recovery would depend on the emergence of fresh macroeconomic catalysts and an easing of geopolitical pressures.