KARACHI:
The Pakistan Stock Exchange (PSX) continued its bullish run on Thursday as the benchmark KSE-100 index soared past the 138,000 milestone for the first time in history, backed by deep investor interest and robust performance by heavyweight sectors.
Stock buying was observed across the board, with notable strength in auto, cement, fertiliser, and energy sectors. The momentum was driven primarily by institutional activity and the upbeat macroeconomic outlook.
Among energy sectors, oil and gas exploration, oil marketing, power generation, and refining led the charge, pushing the index higher. Banking names like United Bank and National Bank also contributed significantly, while improved volumes and positive cues helped sustain investor interest.
The index touched an intra-day peak of 138,943.47 before settling at 138,665.50 at close, up sharply by 2,285.53 points, or 1.68%.
KTrade Securities, in its market wrap, wrote that the PSX witnessed a strong session, with the KSE-100 index gaining 2,286 points (+1.68%) to close at a new all-time high of 138,665.
The rally was led by strength in fertiliser, banking, and technology sectors, where notable contributions came from Fauji Fertiliser, United Bank, Engro Fertilisers, Systems Ltd, Engro Holdings, Hub Power, Habib Bank, and Lucky Cement. The overall sentiment remained strong, supported by the market’s upward momentum, it said.
Arif Habib Limited (AHL) observed that the KSE-100 index posted strong gains after testing support levels earlier in the week, edging closer to the 139,000 mark.
Some 80 shares rose, while 20 declined, with major gains coming from Fauji Fertiliser (+2.92%), United Bank (+2.82%), and Engro Fertilisers (+5%). On the flip side, Bank AL Habib (-0.86%), Thal Limited (-3.37%), and Habib Metropolitan Bank (-1.15%) were the biggest drags, it said.
In corporate news, Pakistan Services (+10%) received an offer for 28% voting shares from AKD Group Holding. On the diplomatic front, Pakistan and El Salvador formally established bilateral relations, with particular focus on cryptocurrency collaboration, AHL mentioned.
Among top stocks held by mutual funds, Oil and Gas Development Company, Pakistan Petroleum, and Pakistan State Oil led the list.
OGDC topped with 62 mutual funds collectively holding 17.2% of its free float. PPL followed, with 51 funds owning 15.5%, while PSO ranked third, which was held by 50 funds representing 29.7% of its free float.
As the market heads into the final trading session of the week, the KSE-100 index is up 3.25% so far in the week, it concluded.
Overall trading volumes increased to 780 million shares as compared to Wednesday’s tally of 706 million. The value of shares traded was Rs40 billion. Shares of 486 companies were traded. Of these, 306 stocks closed higher, 154 dropped, and 26 remained unchanged.
