Benchmark index touches an intraday high of 168,290 before settling in positive territory
KARACHI:
The Pakistan Stock Exchange (PSX) maintained its upward momentum on Friday, with the benchmark KSE-100 Index closing firmly in the green amid improving investor sentiment driven by optimism over Pakistan-facilitated peace talks between the United States and Iran.
The index settled at 167,191 points, gaining 1,674 points or 1.01% on a day-on-day basis, reflecting renewed buying interest despite intermittent profit-taking during the session. The market witnessed a strong trading range, touching an intraday high of 168,290 points and a low of 166,221 points, indicating sustained bullish activity throughout the session, according to KTrade.
Banking stocks emerged as the primary drivers of the rally, contributing 552 points to the index. Heavyweights including MCB, HBL, UBL and Bank of Punjab (BOP) supported the upward trajectory.
Cement sector also played a key role, adding 339 points, followed by contributions from technology (137 points) and automobile (94 points) sectors, highlighting broad-based participation across key industries.
Volumes surge amid cautious optimism
Trading activity remained robust, with total volume in the all-share index reaching 853 million shares, while the total traded value stood at Rs46.34 billion, reflecting heightened investor engagement.
Among volume leaders, BOP topped the list with 61 million shares traded, followed by WorldCall Telecom (WTL) and Sui Southern Gas Company (SSGC) with 57 million shares each. Fauji Foods (FNEL) and K-Electric (KEL) also recorded strong activity.
Despite the overall positive momentum, some stocks weighed on the index, including MEBL, Service Industries (SRVI), Engro Holdings (ENGROH), Interloop (ILP) and K-Electric.
Analysts noted that the rally was largely sentiment-driven, supported by easing geopolitical concerns and expectations of a favourable outcome from ongoing diplomatic efforts.
However, they cautioned that the market’s direction in the coming sessions will remain closely tied to geopolitical developments, particularly the outcome of Pakistan-mediated talks between Iran and the US.
Until greater clarity emerges, experts recommend a cautious and selective investment strategy, as volatility may persist in the near term.
