Selective buying helps KMI-30 maintain upward trend despite draggers

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Karachi: The KMI-30 index maintained its upward trajectory at the Pakistan Stock Exchange on Wednesday, as investors showed confidence in key banking and conglomerate stocks despite pressure from select energy and tech names. The benchmark registered a gain of 591.63 points, ending the session at 265,288.04, up 0.22 percent.
The market witnessed fluctuations throughout the day, with prices moving between a high of 266,658.54 and a low of 264,107.60. The steady recovery toward the close indicated resilience among buyers who stepped in at lower levels to accumulate quality stocks.
Leading the rally was Meezan Bank, which played a decisive role in pushing the index upward. Engro Holdings followed closely, while contributions from Searle, Lucky Cement, and Millat Tractors provided additional strength. Analysts noted that these stocks attracted institutional interest due to strong fundamentals and earnings expectations.
However, the gains were partly offset by losses in Systems Limited, EFERT, and Pakistan Petroleum Limited, which together erased a significant portion of the index’s advances. Further declines in SAZEW and Mari Petroleum also weighed on sentiment.
Total traded volumes of 70.28 million shares highlighted consistent activity, suggesting that investors remain engaged despite intermittent profit-taking. The broader market trend continues to look positive, supported by improving corporate earnings and relative macroeconomic stability.
The index’s 43.49 percent fiscal year growth reflects a strong rebound in Pakistan’s equity market, while 6.74 percent gains in the current calendar year show that momentum remains intact.
Experts advise investors to focus on fundamentally strong stocks and adopt a diversified strategy as volatility may persist. Nevertheless, the latest session indicates that the KMI-30 remains on a firm footing, with buyers continuing to dominate overall sentiment.