Pakistan Stock Exchange (PSX) closed at another all-time high on Friday, with the benchmark KSE-100 index surging over 2,300 points, or 1.91%, and closing just shy of 124,400, marking a weekly gain of 3.6%.
The rally was fueled by aggressive institutional buying ahead of FY26 portfolio allocations, strong foreign inflows and improved investor sentiment. Key gainers included Fauji Fertiliser Company (FFC), Lucky Cement and Meezan Bank, while Pakistan Services, National Foods and International Steels weighed on the index.
Fresh hydrocarbon discoveries by Pakistan Oilfields and MOL in Khyber-Pakhtunkhwa lifted energy sector confidence. On the diplomatic front, Prime Minister Shehbaz Sharif and US Secretary of State Marco Rubio reaffirmed their commitment to deepening trade ties.
Meanwhile, Pakistan secured $3.1 billion in commercial loans and over $500 million in multilateral funding, expected to be reflected in reserves late Friday.
Trading volumes remained robust at 773.4 million shares while traded value stood at Rs37.6 billion. The market is expected to find support around 122,000 with potential upside towards 127,000 in the coming week.
"Stocks closed at an all-time high after the National Assembly passed Finance Bill 2025 amid political consensus. Investors eye State Bank's policy easing amid falling government bond yields in the recent auction," said Arif Habib Corp Managing Director Ahsan Mehanti. Surging global equities on a stable Iran-Israel ceasefire and rising global crude oil prices drove the PSX to a record close, he added.
At the end of trading, the benchmark KSE-100 index posted a surge of 2,332.60 points, or 1.91%, and settled at 124,379.07.
Arif Habib Limited (AHL) wrote in its daily review that on Friday, the index rose by 1.91%, led by strong performances from FFC (+2.23%), Lucky Cement (+4.28%) and Meezan Bank (+2.98%). On the flip side, Pakistan Services (-8.3%), National Foods (-1.76%) and International Steels (-0.8%) were the key drags on the index.
In a positive development, Prime Minister Shehbaz Sharif and US Secretary of State Marco Rubio agreed to deepen bilateral ties, especially through enhanced trade. Meanwhile, the government of Pakistan secured $3.1 billion in commercial loans and over $500 million in multilateral funding, which would be reflected in the reserves update.
In the energy sector, Pakistan Oilfields (+6.06%) and MOL announced new hydrocarbon discoveries in K-P's Makori Deep-03 well, expected to yield 22 mmcfd of gas and 2,112 barrels of oil per day, AHL mentioned.
For the coming week, technical support is expected at around 122,000, with resistance seen near 127,000. It was a strong week for Pakistan's equity market, with the KSE-100 index gaining 3.6% week-on-week to close above the 124,000 mark, it added.
Topline Securities, in its review, wrote that bulls dominated trading on aggressive buying by local institutions as the KSE-100 index increased 1.9% to close at its highest-ever level of 124,379. "This buying by local institutions can be attributed to fresh liquidity due to new fiscal year allocations towards equity funds," it said.
Top positive contribution to the index came from FFC, Lucky Cement, Meezan Bank, Pakistan Oilfields, Engro Holdings, Engro Fertilisers and OGDC as they cumulatively contributed 1,044 points.
Traded value-wise, Lucky Cement (Rs2.27 billion), OGDC (Rs2.11 billion), PSO (Rs1.97 billion), Pakistan Petroleum (Rs1.94 billion), Maple Leaf Cement (Rs1.09 billion), Hubco (Rs1.03 billion) and UBL (Rs1.02 billion) dominated the trading activity, Topline added.
Mubashir Anis Naviwala of JS Global said bulls took charge on the trading floor, with the KSE-100 index climbing 2,332 points. Strong price action was seen across the board, reflecting renewed investor confidence. Broad-based buying interest lifted major sectors, boosting the overall market sentiment, he said.
The rally was supported by robust demand for cement, banking and fertiliser stocks. The near-term outlook remains positive, with dips offering attractive entry opportunities, the analyst said.
Overall, shares of 484 companies were traded. Of these, 334 stocks closed higher, 116 fell and 34 remained unchanged.
Bank Makramah was the volume leader with trading in 79.7 million shares, gaining Rs0.56 to close at Rs5.07. It was followed by Ghani Global Holdings with 27.7 million shares, gaining Rs1.60 to close at Rs17.99 and Pervez Ahmed Consultancy with 24.9 million shares, losing Rs0.02 to close at Rs3.27. Foreign investors sold shares worth Rs1.2 billion, the National Clearing Company reported.
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