MarketRadar read: positive

The Pakistan Stock Exchange benchmark closed Wednesday, October 28, at 165,736.76, up 1,269.55 points or 0.77% from Tuesday's 164,467.20.

The gain followed Tuesday's 1,428.73-point advance, and it came on heavier trading: ready-market volume reached 578.124 million shares against 401.969 million a day earlier, while traded value rose to Rs 26.203 billion from Rs 18.069 billion. Market capitalisation closed at Rs 18.329 trillion, up from Rs 18.214 trillion.

The session traded in a 1,744.51-point range. The index touched 166,100.34 at the high and 164,355.83 at the low, so buyers held the upper half of the range into the close. Breadth backed the move: 269 companies advanced, 180 declined and 47 finished unchanged across 496 ready-market companies. Inside the 100 index companies, 63 closed up, 34 closed down and 3 were unchanged. The broader All-Share index added 628.92 points to 100,358.83.

Banks and fertilizer did the lifting

Sector contributions show where the points came from. Commercial banks added 536.03 points and fertilizer added 443.54 points, together accounting for 979 of the 1,269-point gain. Automobile assemblers contributed 151.52 points, power generation and distribution 126.98 points, and cement 75.87 points. On the other side, investment banks and securities companies gave back 105.49 points, technology and communication 49.01 points, and oil and gas exploration 39.76 points.

Single names tell the same story. Fauji Fertilizer Company added 338.39 points, National Bank of Pakistan 185.21 points, Hub Power Company 158.19 points, MCB Bank 78.98 points and Bank Alfalah 73.39 points. Together those five supplied about 834 points. Engro Holdings dragged 86.63 points off the index, Mari Energies 36.82 points, Systems Limited 36.55 points, Pakistan Oilfields 26.47 points and Attock Refinery 22.11 points.

The day's percentage leaders were Ghandhara Industries at 10.00%, TGL at 7.03%, National Bank at 6.58%, Lotte Chemical at 5.23% and Sazgar Engineering at 4.65%. The weakest names were Nishat Power at minus 4.75%, Nishat Chunian Power at minus 4.64%, Hinopak Motors at minus 4.25%, Pak-Gulf Leasing at minus 2.77% and International Industries at minus 2.72%.

Volume concentrated in three names

Pervez Ahmed Company led the volume chart with 58.321 million shares, followed by TPL Properties with 38.349 million and Cnergyico PK with 34.763 million. Total trades numbered 334,236. KSE-100 volume alone was 183.55 million shares, so roughly a third of all ready-market volume sat inside the index names.

What it means for Pakistan

Two facts frame the session. First, the advance survived a difficult backdrop: Brent crude rose above $115 a barrel during the day after a missile strike claim against a Saudi refinery, and the State Bank had raised its policy rate by 50 basis points to 12% two days earlier, on October 26. Buying in banks and fertilizer overcame both. Second, the volume jump matters more than the points: 578 million shares against 402 million on Tuesday means the move had participation, not just index heavyweights drifting higher.

For readers tracking the market from the /pakistan/ page, the level to watch next is the session high of 166,100.34. A close above it extends the two-day run.

A slip back under Tuesday's close of 164,467.20 would hand the range back to sellers. Corporate results remain the driver cited by market reports for the buying, so the next batch of earnings prints, not the daily oil headline, is the cleaner read on whether the advance holds.

Key points

  • KSE-100 closed at 165,736.76, up 1,269.55 points (0.77%) from 164,467.20.
  • Banks added 536.03 points and fertilizer 443.54 points.
  • Ready-market volume hit 578.124 million shares; value Rs 26.203 billion.
  • Breadth: 269 advancers, 180 decliners, 47 unchanged.
  • Session high to watch: 166,100.34.