PSX shatters record, profit-taking looms large

KSE-100 gains 500 points in liquidity-led charge; fertiliser, autos drive rally

Pakistan’s benchmark KSE-100 index soared to a fresh all-time high on Friday, closing at 168,990 points after gaining 500 points, or 0.30% day-on-day. Robust market liquidity drove investor enthusiasm, though mild profit-taking in the final hour slightly tempered the rally.

Trading activity picked up pace as volumes climbed to 831 million shares, up from 776 million in the previous session, signalling renewed confidence among retail and institutional investors. Year-to-date, the index has surged 46.79%, reflecting what analysts call a bullish macroeconomic backdrop.

Read: PSX smashes past 168,000 mark in record-breaking rally amid strong investor confidence

Sector-wise, Fertiliser, Automobile Assemblers and Power Generation & Distribution led the charge, collectively adding 754 points. Fertiliser contributed 104 points, Autos 90 and Power 48, driven by strong earnings outlooks and favourable policies. On the downside, Banks dragged the index by 475 points on valuation concerns, while Pharmaceuticals shed 102 points.

Top gainers included Fatima Fertiliser Company (+520.63 points), United Bank Limited (+189.78), Habib Bank Limited (+108.18), Systems Limited (+93.84) and Aarti Industries (+67.56). On the flip side, Mari Petroleum (-77.46), Maple Leaf Cement (-76.43), MCB (-70.1), HBL variants (-69.71) and Bank Al Habib (-60.92) weighed on the index.

Read More: PSX closes flat amid profit-taking, ADB’s cautious outlook

Price-wise, Aarti Industries (+10%), Cenarion Energy (+6.46%) and Fahad Motors (+5.02%) stood out, while TPL Real Estate (-6.65%), Hum Network (-6.67%) and Maple Leaf Cement (-5.18%) came under pressure.

Analysts at Ismail Iqbal Securities said the rally was driven by ample liquidity and sectoral rotations but cautioned that overbought conditions could spark further profit-taking.