PSX climbs to historic high at 124,379
The Pakistan Stock Exchange (PSX) closed at another historic high on Friday as investor confidence soared following the approval of federal budget for FY26.
The benchmark KSE-100 index surged 2,332.60 points, or 1.91%, to settle at 124,379. 'The market rebounded strongly from Thursday's brief profit-taking phase, with bullish momentum prevailing throughout the session,' noted Ali Najib, Deputy Head of Trading at Arif Habib Ltd. Institutional investors led the rally amid portfolio rebalancing and optimism about the economic direction set by the newly approved budget.
Investor sentiment was further buoyed by robust Roshan Digital Account (RDA) inflows, which reached $10.38 billion by May 2025. Monthly inflows rose 13% to $201 million while the number of accounts climbed to 823,224, reinforcing confidence in Pakistan's external account stability. Key index movers included Fauji Fertiliser Company, Lucky Cement, Meezan Bank, Pakistan Oilfields and Engro Holdings, which collectively contributed 866 points to the day's gains.
Market breadth remained strong, with 773 million shares traded valuing at Rs37.6 billion. Bank Makramah led the volumes chart with 79.7 million shares changing hands. The benchmark index posted a weekly gain of 3.63%, or 4,356 points, over five sessions.
After opening at 118,272, the index touched a high of 125,285 and a low of 115,887, closing well above the key 120,000 psychological mark. Market analysts view the KSE-100's ability to hold above the 122,000 level as a sign of strong momentum.
A sustained stability above 120,000 could pave the way for a fresh rally towards 130,000, driven by improving macroeconomic indicators and rising investor confidence.
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Express Tribune
4 hours ago
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Stock market soars 3.6% in historic rally
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Stocks emerge as best-performing asset class in Pakistan for FY25
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