PSX surges 0.9%, KSE-100 index jumps over 1000 points

KSE-100 index increase by 0.9% or 1,020.04 points.

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The Pakistan Stock Exchange (PSX) experienced a rally on Friday, with the KSE-100 index gaining 1,020.04 points, a 0.9% increase, to reach 114,856.78 points during intra-day trading.

The market reached a high of 114,960.52 points and dipped to a low of 113,571.95 during the trading session.

Trading volume stood at 94,340,778, with a total value of 10,212,346,025.

The market had closed the yesterday session at 113,836.74. This uptick signifies a positive shift in investor sentiment, indicating a steady recovery in the market.

The rally coincided with the announcement of the verdict in the £190 million case that saw the Pakistan Tehreek-e-Insaf (PTI) founding chairman Imran Khan sentenced to 14 years.

Earlier, the stock market closed lower on Thursday, with the KSE-100 index dropping 659 points (0.58%) to settle at 113,836.74.

This decline was driven by weak economic indicators, including a 1.3% contraction in large-scale manufacturing (LSM) from July-November 2024, which contributed to subdued investor sentiment.

Concerns about a cautious monetary policy stance by the State Bank of Pakistan, instability in the rupee, and ongoing political uncertainty further pressured the market.

Top contributors to the decline included stocks like PPL, PSO, and Fauji Fertiliser Company, while Engro Holdings, Habib Metropolitan Bank, and Pakgen Power saw gains.

Despite the market's negative movement, analysts suggest a potential rebound if political issues are resolved and economic stability improves.

Overall trading volumes were 469 million shares, with a total value of Rs25 billion. Foreign investors sold shares worth Rs902.4 million during the session.