PSX soars past 162,000 barrier

The Pakistan Stock Exchange (PSX) ended Friday's session with a spectacular rally as the benchmark KSE-100 index surged nearly 3,000 points to a historic high. The index settled above 162,250 after touching the intra-day peak of 162,422, the highest level in history.

Bulls dominated the session from the opening bell, fueled by aggressive buying in banking, exploration and production (E&P), fertiliser, and cement stocks. Investors shrugged off regional uncertainties and instead focused on strengthening domestic indicators and an upbeat corporate outlook, which helped sustain the momentum throughout the day.

"Sentiment remains buoyant amid a series of landmark developments, including the recently signed Pakistan-Saudi defence agreement," said Ahmed Sheraz of KTrade Securities.

Other factors included the circular debt retirement plan aimed at easing pressure on the energy sector, and a high-profile meeting between Prime Minister Shehbaz Sharif and US President Donald Trump, signaling stronger international engagement, he said.

These developments have reinforced optimism around Pakistan's economic and geopolitical positioning, fueling sustained interest across sectors.

"The Pakistan Stock Exchange witnessed a blockbuster rally, with the KSE-100 index touching a record intra-day high of 162,422 points," Mubashir Anis Naviwala of JS Global mentioned in his report.

Bulls dominated throughout the day, driving the index to unprecedented levels. The market eventually closed with a massive gain of 2,977 points, marking another historic close, he said.

Strong participation was seen in banking, E&P, fertiliser, and cement stocks. Total traded volumes stood at 1,715 million shares, with top activity in WorldCall Telecom, K-Electric, Cnergyico PK, Treet Corp and The Bank of Punjab (BOP). "Outlook remains decisively bullish, with momentum likely to continue in the near term," added Naviwala.

At the close of trading, the benchmark KSE-100 index posted a strong surge of 2,976.92 points, or 1.87%, and settled at 162,257.01.

Arif Habib Limited (AHL) noted that the stock exchange extended gains week-on-week (WoW) to +2.67%, with the index showing resilience. A total of 65 shares rose while 33 fell, with Fauji Feriliser Company (+2.57%), UBL (+3.02%), and Engro Holdings (+3.69%) contributing the most to index gains.

On the downside, Pioneer Cement (-4.24%), TRG Pakistan (-3.22%), and K-Electric (-3.39%) were the biggest drags on the index.

In a significant development, AHL mentioned, Rafhan Maize Products Company's (+9.5%) majority shareholder Ingredion reached a conditional share purchase agreement to sell a 51.04% stake to Nishat Hotels and Properties. Additionally, Power Cement (+0.56%) executed an agreement with Burg Clean Energy for a 7.5-megawatt wind power project at its site. "Looking ahead, support for the coming week rises to 159.5k, with the upside target set at 165k," said AHL.

Topline Securities, in its market review, said that robust buying was observed at the local bourse, as the KSE-100 index gained 1.87% (+2,977 points) to close at 162,257.

Buying in the market can be attributed to growing investor confidence in the backdrop of improving macro indicators. The top positive contribution to the index came from Fauji Fertiliser Company, UBL, Engro Holdings, HBL and Mari Petroleum, as they cumulatively contributed 1,424 points, it said.

Traded value-wise, Mari Petroleum (Rs5.04 billion), DG Khan Cement (Rs4.55 billion), Pakistan Petroleum (Rs3.7 billion), Fauji Fertiliser (Rs3.04 billion) and Hub Power (Rs2.48 billion) dominated the activity, observed Topline.

Overall trading volumes were recorded at 1.71 billion shares compared with the previous session's tally of 1.67 billion. The value of shares traded during the day was Rs70.7 billion.

Shares of 484 companies were traded. Of these, 228 stocks closed higher, 230 fell, and 26 remained unchanged.

WorldCall Telecom was the volume leader with trading in 450 million shares, gaining Rs0.09 to close at Rs1.85. It was followed by K-Electric with 112 million shares, losing Rs0.25 to close at Rs7.13, and Cnergyico PK with 73 million shares, losing Rs0.04 to close at Rs8.81.

Foreign investors sold shares worth Rs849.8 million, the National Clearing Company reported.