KSE-100 closes at record high of 82,074.45, gaining 615 points

Index records weekly gain of 2.57%, attributing to declining KIBOR rates and yields on govt bills

The Pakistan Stock Exchange (PSX) witnessed strong bullish momentum on Friday, with the benchmark KSE-100 Index closing at a record high of 82,074.45, an increase of 615.16 points or 0.76%. 

The index was buoyed by buying activity in key sectors, particularly during the session's early trading, where it reached an intra-day peak of 82,372.20.

Despite some selling pressure in the afternoon, buying resumed in the final hours, helping to secure the gains. 

Topline Securities noted that the index traded predominantly in positive territory, driven by lower-than-expected selling linked to the FTSE reclassification of Pakistan from Secondary Emerging to Frontier Market status.

Key sectors contributing to the index's rise included banking, cement, technology, pharmaceuticals, automobiles, and textiles. The KSE-100 recorded a weekly gain of 2.57%, attributed to declining KIBOR rates and yields on government bills, signalling expectations of further policy rate cuts.

On Thursday, the KSE-100 had already made significant strides, closing at 81,459.29 after gaining 997.95 points or 1.24%. This upward trend aligned with global market movements, as Asian shares rallied following a substantial interest rate cut by the US Federal Reserve.

Trading volume on the all-share index rose to 482.37 million shares, up from 459.04 million the previous day, with a total market value of Rs30.19 billion compared to Rs18.61 billion. 

First Capital Securities led the trading volume with 31.59 million shares, followed closely by Oil & Gas Development with 29.41 million shares, and Fauji Fertilizer Bin with 28.62 million shares.

Out of 453 companies traded, 195 saw their shares increase, while 196 experienced declines and 62 remained unchanged.