KMI-30 edges higher as banking and energy stocks lift PSX by 592 points

The Pakistan Stock Exchange (PSX) witnessed a modest yet positive session on Wednesday as the KMI-30 index closed in the green, supported by strong performances in banking and energy heavyweights. The benchmark index gained 591.63 points, reflecting a 0.22 percent increase, and settled at 265,288.04 points, compared to the opening level of 265,126.52.
During intraday trading, the market remained volatile but optimistic. The index touched a high of 266,658.54 before profit-taking dragged it to a low of 264,107.60. However, renewed buying in select blue-chip stocks helped the market recover by the closing bell. Trading activity also stayed healthy, with index constituent volumes recorded at 70.28 million shares, indicating sustained investor participation.
Major support for the index came from Meezan Bank Limited (MEBL), which alone contributed 713.60 points, making it the biggest driver of the day. Other key gainers included Engro Holdings (ENGROH) with 436.36 points, Searle Company (SEARL) adding 53.41 points, Lucky Cement (LUCK) contributing 25.85 points, and Millat Tractors (MTL) with 25.70 points.
On the flip side, some pressure emerged from technology and fertilizer stocks. Systems Limited (SYS) weighed heavily on the index, dragging it down by 167.69 points, followed by EFERT (-131.37) and Pakistan Petroleum Limited (PPL) (-131.23). Smaller losses from SAZEW and Mari Petroleum (MARI) also restricted further gains.
Despite the mixed performance, the broader sentiment remained constructive. The index’s Fiscal Year-to-Date (FYTD) growth of 43.49 percent highlights the market’s strong recovery trend, while the Calendar Year-to-Date (CYTD) return of 6.74 percent suggests continued investor confidence.
Analysts believe selective buying and improving macroeconomic signals are helping sustain momentum. However, they advise caution amid global uncertainties and recommend stock-specific strategies. If institutional inflows continue, the KMI-30 may test new highs in upcoming sessions.