The KSE-100 Index soared by 1,262 points on Friday, closing at 131,949 amid rising investor confidence in Pakistan’s economic outlook. The surge reflects bullish sentiment driven by expectations of easing inflation, a stable rupee, rising foreign reserves, and optimism surrounding the upcoming corporate earnings season.
Banking Sector Steers the Rally
The rally was led by strong institutional buying in banking stocks. Heavyweights like United Bank Ltd (UBL), Habib Bank Ltd (HBL), Bank Al-Habib (BAHL), MCB Bank, and Meezan Bank (MEBL) added over 1,000 points collectively to the index.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said expectations of monetary easing played a key role. He noted that improving macroeconomic indicators were encouraging large investors to return to the market.
Read: KSE-100 Hits Record High as PSX Rally Gains Momentum
Energy and Fertiliser Stocks See Profit-Taking
While the banking sector surged, some correction was seen in fertiliser and exploration stocks. Companies like Fauji Fertilizer (FFC), Pakistan Petroleum (PPL), Engro (ENGROH), Oil and Gas Development Company (OGDC), and Mari Petroleum (MARI) trimmed 341 points from the index as investors booked profits.
Trading Activity and Volume Leaders
Despite the strong rally, overall trading activity was moderate. Volume reached 728 million shares, while the total turnover stood at Rs34.8 billion. WorldCall Telecom Ltd (WTL) dominated the volume chart with 57.4 million shares changing hands.
Weekly Performance Shows Strong Gains
The PSX closed the week on a high, with the KSE-100 gaining 7,570 points or 6.09%. The index started the week at 124,931 and hit an intra-week high of 132,108. Analysts now view the 130,000 level as a new key support, with 127,000 as a secondary floor.
Outlook: Momentum to Continue
Analysts predict continued bullish momentum backed by solid economic fundamentals, healthy foreign inflows, and positive earnings expectations. Market participants now look to upcoming corporate results for further direction.
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