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The Pakistan Stock Exchange (PSX) reached a historic milestone on Friday as the KSE-100 index broke past the 90,000-point barrier during intra-day trading.
The index climbed to 90,087.41 points at 10 a.m., gaining 1,109.73 points or 1.25% from the previous close of 88,945.98 points. This upward momentum continued throughout the week, showcasing sustained market optimism.
Factors Driving the Rally
Investor confidence surged, fueled by economic reforms and government initiatives. As a result, trading activity saw 62.3 million shares changing hands, reflecting strong market participation. The total value of shares traded reached Rs5.05 billion.
On Thursday, the market had already crossed another key milestone, nearing 89,000 points, with a gain of 1,750 points. This was largely driven by investor interest in blue-chip stocks and expectations of a policy rate cut in the upcoming monetary policy announcement.
Key Contributors to the Market Surge
Several factors contributed to the bullish trend:
- Positive corporate earnings reports during the ongoing results season.
- Negotiations with China over restructuring energy sector debt.
- Surging global crude oil prices.
- Anticipation of State Bank policy rate cuts.
- Government discussions about privatizing state enterprises.
According to Ahsan Mehanti, Managing Director of Arif Habib Corp, the combination of strong blue-chip stocks, speculation during earnings season, and positive economic signals drove the PSX to new heights.
Market Data & Key Players
At the close of trading, the KSE-100 index registered a significant rise of 1,751.45 points, or 2.01%, ending the day at 88,945.99 points.
Top gainers included:
- Fauji Fertiliser Company (+6.7%)
- United Bank Limited (+5.33%)
- Oil and Gas Development Company (+3.65%)
Notable losers:
- Systems Limited (-1.53%)
- Interloop Limited (-2.74%)
- Mari Petroleum (-0.44%)
Trading Volume & Market Sentiment
Friday’s trading volumes surged to 757.6 million shares, up from 699.3 million on the previous day, with a total value of Rs36.05 billion. A total of 454 companies were traded, with 238 gaining, 167 declining, and 49 remaining unchanged.
K-Electric led the volume chart, with 113.2 million shares traded, followed by Pakistan Telecommunication Company and Fauji Cement.
Foreign investors were net sellers, offloading shares worth Rs2.68 billion, according to the NCCPL.
