PSX maintains upward trajectory
The benchmark KSE-100 Index gained 517.42 points, or 0.39 percent, to settle at 134,299.77 points up from the previous day's 133,782.35 points. The market opened on a positive note and remained largely in the green throughout the session, touching an intraday high of 134,931.96 points and low of 134,130.41 points.
On Friday, BRIndex100 gained 56.65 points or 0.42 percent to close at 13,630.83 points with the total volume recorded at 572.99 million shares. Similarly, BRIndex30 advanced by 184.27 points or 0.46 percent to settle at 39,850.99 points.
Topline Securities, in its post-session commentary, attributed the sustained positivity to continuous inflows from mutual funds, as investors continued converting their holdings from fixed income to equity funds — a trend evident in National Clearing Company of Pakistan Limited (NCCPL) data.
Major contributions to the index's rise came from UBL, HUBCO, MTL, KTML and PSO, which cumulatively added 430 points.
Overall, trading activity eased from the previous day's surge, with the total traded volume in the ready market clocking in at 765 million shares, compared to 941 million shares on Thursday. Similarly, the traded value stood at Rs 40.16 billion, up from Rs 36.06 billion of yesterday value.
Among actively traded stocks, Bank of Punjab topped the volume chart with over 94.13 million shares changing hands with the closing rate of Rs 13.08, followed by Aisha Steel that ended the day at Rs 12.11 with 25.05 million shares traded, while Kohinoor Spinning also dominated the turnover and finished at Rs 6.69 with 23.6 million shares.
Market breadth, however, remained mixed, with 220 companies advancing, 228 declining, and 29 remaining unchanged out of 477 active names.
PSX witnessed a notable increase in its overall market capitalization on Friday, which rose to Rs 16.288 trillion from the previous session's Rs 16.210 trillion reflecting a gain of Rs 78 billion. This marked an uptick of approximately 0.48 percent in market cap.
The BR Automobile Assembler Index finished the session at 22,427.83 points, recording an increase of 419.25 points or 1.9 percent, with a total turnover of 26.9 million shares. The BR Cement Index also closed higher at 10,840.73 points, rising by 103.24 points or 0.96 percent, on a total turnover of 57.66 million shares.
Meanwhile, the BR Commercial Banks Index ended in negative territory at 38,925.79 points, down by 78.48 points or 0.2 percent, with a turnover of 127.41 million shares. The BR Power Generation and Distribution Index settled at 21,230.80 points, gaining 164.08 points or 0.78 percent, with a total of 22.66 million shares traded.
Likewise, the BR Oil and Gas Index edged up by 52.83 points or 0.43 percent to close at 12,229.03 points, with a turnover of 39.54 million shares. On the other hand, the BR Technology & Communication Index closed lower at 3,046.56 points, losing 25.94 points or 0.84 percent, with a total turnover of 48.134 million shares.
According to Ahsan Mehanti of Arif Habib Corporation, the Pakistan Stock Exchange surged to a new all-time high as the ongoing earnings season rally combined with a series of positive economic indicators to fuel investor sentiment.
He noted that surging foreign exchange reserves, now approaching the $20 billion mark, along with a strong 38 percent year-on-year jump in auto sales for FY25, provided a major boost to market confidence. Additionally, the government's revision of Public Sector Development Program (PSDP) spending to Rs1.05 trillion for the current fiscal year and record remittance inflows acted as key catalysts, helping the market achieve another record close.
Copyright Business Recorder, 2025
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