By Ali Imran
The Pakistan Stock Exchange (PSX) scaled a fresh all-time high on Friday as the benchmark KSE-100 index surged by more than 1,500 points, extending gains for the week amid strong investor sentiment.
The index closed at 172,400.73 points after rising by 1,570.51 points, or 0.92%, from the previous close of 170,830.22 points. Market participants described the session as broadly positive, with the benchmark consolidating above the 172,400 level by the close.
Major support to the index came from Engro Holdings Limited (ENGROH), Pakistan Petroleum Limited (PPL), Systems Limited (SYS), National Bank of Pakistan (NBP), and Maple Leaf Cement Factory (MLCF), which together added 774 points to the benchmark.
In terms of traded value, Bank of Punjab led with Rs3.1 billion worth of shares changing hands, followed by NBP at Rs2.94 billion, The Searle Company at Rs2.05 billion, PPL at Rs2.03 billion, Pakistan Telecommunication Company at Rs1.51 billion, and MLCF at Rs1.35 billion. Total traded volume for the day stood at 797 million shares, while traded value reached Rs38 billion.
On a weekly basis, the KSE-100 index posted a gain of 0.58%. Analysts attributed the advance to renewed confidence following the successful privatisation of Pakistan International Airlines at Rs135 billion, one of the largest privatisation deals in the country’s history.
Investor interest was further supported by the State Bank of Pakistan’s 50-basis-point cut in the policy rate to 10.5% announced last week.
During the week, the government raised Rs883 billion in a treasury bill auction against a target of Rs600 billion and maturities of Rs471 billion, with yields declining by 36 to 72 basis points. Average daily trading volume and value for the week stood at 736 million shares and Rs31.5 billion, respectively.
