PSX Bullish Surge: KSE-100 Index Nears Record 95,000 Mark

The Pakistan Stock Exchange (PSX) ended the week on an extraordinary note, with the KSE-100 index soaring to new heights. On Friday, the index surged by over 700 points during intraday trading, marking a historic achievement. The benchmark index is now within touching distance of the 95,000-point mark, showcasing the growing optimism in Pakistan’s economic landscape.

---

Market Performance Highlights

The market opened with a powerful surge of 768 points, reaching an intraday high of 94,982.28 points, while the day’s low was 94,431.18 points. By the close of trading, the KSE-100 index had risen 836.47 points (0.90%), settling at 94,191.89.

The trading volume reflected robust market activity, with 127.96 million shares traded at a value of approximately Rs9.77 billion. A strong investor turnout signaled heightened confidence, driven by key economic and policy updates.

---

What’s Driving the Bullish Trend?

Several factors contributed to the positive sentiment:

1. Economic Optimism: Reports of the IMF expressing no concerns over Pakistan’s revenue collection targets eased fears of a mini-budget.
2. Banking Relief: A temporary reprieve from the Islamabad High Court on a government tax linked to private sector lending shortfalls bolstered investor confidence.
3. Oil and Gas Sector Gains: The Oil and Gas Development Company (OGDC) recorded a strong cash collection ratio of 121%, signaling stability in revenue streams.
4. Rupee Stability: Stability in the exchange rate further strengthened market confidence.

---

Sectoral Contributions

The rally was led by key players in the banking and energy sectors, including:

• United Bank Limited (UBL): +2.42%
• Habib Bank Limited (HBL): +4.13%
• Oil and Gas Development Company (OGDC): +2.51%
  Together, these companies contributed 455 points to the index’s gains.

Additionally, the pharmaceutical and fertilizer sectors showed promising growth, with analysts recommending a buy-on-dips strategy for these stocks.

---

Top Performers and Volume Leaders

The day’s top volume leaders included:

• WorldCall Telecom: 177.4 million shares traded, gaining Rs0.12 to close at Rs1.38.
• Hascol Petroleum: 59.2 million shares traded, gaining Rs1 to close at Rs8.21.
• Treet Battery: 47.9 million shares traded, gaining Rs1.34 to close at Rs15.81.

Despite the bullish sentiment, foreign investors sold shares worth Rs737.7 million, according to the NCCPL.

---

Analyst Insights

Analysts are optimistic about the market’s upward trajectory. Mubashir Anis Naviwala of JS Global noted that the index’s rise is backed by confidence in the IMF program and suggested focusing on exploration and production, pharmaceutical, and fertilizer sectors for future gains.

Arif Habib Limited also highlighted that the 94,000-point level could now serve as a strong support for further growth.

---

Stay tuned for more updates on market trends and insights as the PSX continues its record-breaking journey.