KARACHI:
The Pakistan Stock Exchange (PSX) closed the week on a bullish note on Friday, with the benchmark KSE-100 index advancing 1,274 points to settle at 148,618, up 0.86% day-on-day. The rebound came after a volatile week, fueled by expectations of flood rehabilitation-related spending and cyclical sector recovery.
Market participation surged, with trading volumes rising sharply to 625 million shares against 307 million in the previous session. Analysts attribute the heightened activity to strong investor interest in cement, commercial banks, and technology and communication stocks, which together added 958 points to the index, according to Ismail Iqbal Securities.
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Sectoral performance was led by cement, contributing a hefty 623 points, followed by commercial banks (228 points) and technology (107 points). Conversely, the auto sector dragged the index lower by 59 points, reflecting subdued investor sentiment in that segment.
Among individual movers, Habib Bank Ltd (HBL) stood out as the top contributor, adding 153 points, followed by DG Khan Cement with 139 points, Lucky Cement with 135.5 points and Fauji Cement with 124 points. On the downside, Engro Corporation dented the index by 65.8 points, while Meezan Bank and Indus Motor lost 61.5 and 27.7 points, respectively.
On a monthly basis, the KSE-100 has rallied 6.62%, extending its calendar year-to-date gains to a strong 29.09%, while the fiscal year-to-date performance stands at 18.30%.
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Market watchers note that Friday’s surge reflects optimism over potential government-backed infrastructure and flood rehabilitation initiatives, which are expected to stimulate demand across cement, power, and construction-linked sectors. However, selective profit-taking was observed in auto and select blue-chip names.
With improved momentum and healthy liquidity, analysts suggest the KSE-100 may continue testing new highs in the coming sessions, though profit-taking and macroeconomic developments will remain key triggers for short-term market direction.
