With 4,000-point jump, PSX nears 174k mark

Stocks rallied sharply on Friday, with the benchmark KSE-100 index surging nearly 4,030 points to close at around 173,940, as strong institutional buying and improved geopolitical sentiment fueled broad-based gains at the Pakistan Stock Exchange (PSX).

At the close of trading, the KSE-100 posted a strong increase of 4,027.06 points, or 2.37%, and settled at 173,939.01.

Arif Habib Limited (AHL) noted that Pakistan's stock market continued its upward momentum during the week, with the benchmark index surging over 4% week-on-week, reflecting sustained bullish sentiment.

On Friday, market breadth remained positive as 82 shares advanced while only 15 declined, where heavyweights such as UBL (+7.18%), NBP (+10%), and Engro Holdings (+2.85%) contributed the most to the index gains. However, some pressure was seen from stocks like Engro Fertilisers (-0.77%), TRG Pakistan (-1.04%), and Unilever Pakistan Foods (-0.75%), which acted as the biggest drags on the index.

Investor sentiment was supported by geopolitical developments after US President Donald Trump indicated that Iran had made key concessions in ongoing negotiations aimed at ending the seven-week conflict. Additionally, a ceasefire between Israel and Hezbollah in Lebanon improved prospects of broader regional stability, lending further support to global and local equities.

On the corporate side, HBL posted its 1QCY26 results with earnings per share of Rs11, down 3% year-on-year, and a dividend of Rs6 per share. Its stock gained 2.42% in Friday's session.

Market statistics showed that the KSE-100 index closed at 173,939, gaining 4,027 points, or 2.37%, during the session. On a weekly basis, the index rose by 6,747 points (+4.04%), while month-to-date gains stood at 25,195 points (+16.94%), AHL said.

However, on a calendar year-to-date basis, the index remained slightly negative by 115 points (-0.07%). Total market capitalisation stood at Rs19.25 trillion, while average daily traded volume in the ready market was recorded at 1.44 billion shares, with traded value at Rs68 billion.

Among top-performing stocks, NBP led the gainers with a 10% increase, followed by Ghandhara Industries (+9.14%), The Bank of Punjab (+9.05%), Haleon (+6.75%), and UBL (+6.69%), contributing significantly to the rally. In terms of trading activity, OGDC topped the charts with a traded value of $20.4 million and volume of 153.7 million shares, followed by Pakistan Oilfields, NBP, Pakistan Petroleum, and UBL.

Looking ahead, market participants expect the bullish trend to persist, with the KSE-100 potentially testing the 180,000 level in the near term, while strong support is seen around the 165,000 mark, AHL added.

Topline Securities stated that a robust trading session was observed at the local bourse, as the KSE-100 increased by 2.37%. "This positivity can be attributed to a statement by US President Donald Trump, who claimed that Iran had made concessions in ongoing negotiations to end the seven-week war, while a ceasefire between Israel and Hezbollah in Lebanon increased prospects of broader peace," it said.

The top positive contribution to the index came from UBL, NBP, Pakistan Petroleum, OGDC, Lucky Cement and HBL, as they cumulatively contributed 1,926 points. Traded value-wise, BOP (Rs5.5 billion), OGDC (Rs4.3 billion), NBP (Rs3.69 billion), HBL (Rs3.41 billion) and PPL (Rs3.2 billion) dominated the activity, Topline added.

Overall trading volume was recorded at 1.44 billion shares compared with the previous session's tally of 972.71 million. The value of shares traded during the day was Rs67.99 billion. Shares of 486 companies were traded. Of these, 354 stocks closed higher, 101 fell, and 31 remained unchanged.

BOP was the volume leader with trading in 153.72 million shares, gaining Rs3.07 to close at Rs37.01.