The Pakistan Stock Exchange (PSX) reached historic levels on Friday, with the benchmark KSE-100 Index crossing the 169,000-point milestone for the first time.
The market surged by 1,499 points during trading and briefly approached the 170,000 mark before closing slightly lower due to selling pressure in the final session.
Record-breaking trading day
The stock market witnessed selling pressure in the last closing hour. The KSE-100 Index ended the day at 168,990 points after rising 500 points, setting a new closing record. The Ready Market also recorded its highest-ever single-day trading volume, with 1.57 billion shares worth Rs79 billion changing hands.
Market participants said this surge was fueled by active buying from mutual funds, insurance companies, and high-net-worth investors, reflecting growing confidence in the market’s performance.
Sectors driving rally
Strong interest was seen in oil marketing companies, cement firms, refinery stocks, and automobile companies, which attracted significant buying activity. Analysts noted that these sectors are often viewed as indicators of broader economic momentum, suggesting positive investor sentiment about Pakistan’s growth outlook.
Closing hour pressure
Despite the rally, the market witnessed selling pressure in the final hour of trading, trimming some of the intraday gains. However, the strong finish just below the historic 170,000 mark reinforced expectations that the index could soon cross the milestone in upcoming sessions.
Investors witnessed a strong buying wave that lifted the market to an all-time high.
Market reaches record levels
The stock market surged by more than 1,300 points during the second half of intraday trading, crossing 169,500 points. The 100 Index climbed 1,351 points to trade at 169,841 points, reflecting strong investor confidence.
By the end of the first session, the index closed at 169,302 points after gaining 812 points. At the start of the session, the rally started strong, pushing the index further to reach 169,663 points, marking another all-time high.
Key sectors driving rally
The record-breaking rally was fueled by robust buying in multiple sectors. Shares of oil marketing companies, cement manufacturers, refinery firms, and automobile companies were in high demand. Analysts say the broad-based rally indicates strong market sentiment supported by improving economic indicators and renewed investor optimism.
