PSX surges past 172k on heavyweight buying

Bulls keep firm grip as KSE-100 gains 1,571 points to set new record

KARACHI:

The Pakistan Stock Exchange (PSX) ended the final trading session of the week on a firm footing, with bullish sentiment driving the benchmark KSE-100 index to a fresh all-time high.

The index surged by over 1,550 points, supported by strong buying interest in key heavyweight stocks amid improving macroeconomic and diplomatic developments.

Market activity reflected broad-based optimism as 221 shares closed higher while 229 declined and 32 remained unchanged, out of a total of 482 traded during the session. Investors largely focused on index-heavy names, where Engro Holdings, Pakistan Petroleum and Systems Limited emerged as top contributors to the day's gains, offsetting pressure from select cement, fertiliser and energy stocks.

Sentiment was further reinforced by positive developments on the macroeconomic front. The Asian Development Bank's approval of a $730 million financing package for a key power transmission project and state-owned enterprise reforms added to confidence about infrastructure upgrades and fiscal consolidation.

Meanwhile, the arrival of the UAE president on an official visit underscored the strengthening of bilateral ties and raised expectations of enhanced trade, investment and financial cooperation.

At the close of trading, the benchmark KSE-100 index posted a strong gain of 1,570.51 points, or 0.92%, and settled at 172,400.73.

Arif Habib Limited (AHL) noted that in the final trading session of the week, sentiment remained upbeat. The index received its strongest support from heavyweight performers including Engro Holdings (+4.64%), PPL (+2.87%) and Systems Ltd (+2.24%), which contributed the most to the day's gains. On the downside, Lucky Cement (-0.83%), Millat Tractors (-1.52%) and Rafhan Maize Products (-5.99%) emerged as the biggest drags on the index.

Among economic news, it mentioned, the ADB approved a $730 million financing package to support a critical power transmission project and reforms in state-owned enterprises, further bolstering optimism around infrastructure and fiscal improvements.

Adding to the positive sentiment, Pakistan International Airlines (PIA) announced plans to reclaim some of its valuable slots at London's Heathrow Airport and resume flights to the UK as early as March-April 2026, marking a significant step in the airline's revival following its recent privatisation.

Looking ahead to the coming week, market participants expect the KSE-100 index to continue its upward trajectory, with solid support established around the 170,000 level, provided broader positive catalysts remain intact.

"A positive session was observed at the exchange as the index gained to close at an all-time high of 172,400 (up 0.92%)," stated Topline in its market review. Top positive contributions to the index came from Engro Holdings, PPL, Systems Ltd, NBP and Maple Leaf Cement as they cumulatively contributed 774 points.

Traded value-wise, The Bank of Punjab (Rs3.1 billion), NBP (Rs2.94 billion), The Searle Company (Rs2.05 billion), PPL (Rs2.03 billion), PTCL (Rs1.51 billion) and Maple Leaf Cement (Rs1.35 billion) dominated the activity, Topline said.

Overall trading volumes were recorded at 798 million shares compared with the previous session's tally of 812 million. The value of shares traded during the day stood at Rs38 billion.

WorldCall Telecom led the volumes chart with trading in 79.3 million shares, losing Rs0.07 to close at Rs1.66. It was followed by The Bank of Punjab, with 78.05 million shares, gaining Rs1.16 to close at Rs40.06 and K-Electric, which saw trading in 33.06 million shares, edging up Rs0.08 to close at Rs5.74.

Foreign investors sold shares worth Rs456 million, the National Clearing Company reported.