PSX surges past 157,800 in early run

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a buoyant start on Thursday as the benchmark KSE-100 index surged sharply in the opening hours, extending its upward momentum from the previous session.

Investors appeared upbeat on the second last trading day of the week, pushing the market deeper into record-high territory before mild profit-taking trimmed some of the early gains by mid-morning.

Early surge lifts KSE-100 to record high

At around 9:34 AM, just minutes after the opening bell, the KSE-100 index was seen trading 627.66 points higher at 157,648.45, buoyed by strong buying interest across multiple sectors. Market activity was also robust at this stage, with volumes reaching 13.25 million shares, setting the tone for what looked like another active session on the bourse.

The rally gained further steam shortly afterwards. By around 10:19 AM, the benchmark index had leapt 795.97 points to reach an intraday high of 157,816.76, marking a new record level and reflecting broad-based investor confidence. The trading volume had swelled significantly by then, crossing the 100 million mark, underscoring the strength of participation during the early part of the session.

Profit-taking trims morning gains

However, some cooling off followed as traders opted to book profits on select counters. By 11:24 AM, the benchmark index had pared some of its gains but was still comfortably in the green, up 323.10 points or 0.21 percent at 157,343.89. The overall volume on the exchange by this time had climbed to over 163.39 million shares.

The PSX’s intraday range so far showed a low of 157,284.65 and a high of 157,816.76, while on a broader scale, the index has now more than doubled in the past year, showing a one-year change of over 100.05 percent and a year-to-date rise of 36.67 percent. The 52-week range reflects this historic surge, with the index moving from a low of 78,577.65 to its latest record of 157,816.77.

Mixed performance across key stocks

Trading activity during the session showed a mixed picture across individual stocks. Among the standout PSX gainers were counters like Lotte Chemical, Lucky Core Industries, International Industries, TRG Pakistan, and GlaxoSmithKline Consumer, which saw healthy price appreciations ranging between 2 and 6 percent. Pakistan Tobacco, Mughal Iron, Millat Tractors, and Systems Limited were also seen trading in the green with solid momentum behind them. Notably, LCI surged by over 6 percent while EPCL rose nearly 6 percent during the intraday session.

On the flip side, a few heavyweights and mid-cap names came under slight pressure. Mari Petroleum, Pakistan Petroleum, Engro Corporation, and Pakistan Telecommunication were among the stocks trading lower in percentage terms during the session. HUM Network and PTC slipped over 1 percent each, while Mari eased more than 1 percent as well. While the declines were relatively modest, they did temper some of the index’s earlier runaway gains as investors engaged in profit-taking after recent rallies in these names.

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Meanwhile, the overall market breadth remained positive, with more stocks advancing than declining, and broader investor sentiment staying upbeat. The gains came after the KSE-100 had already ended Wednesday’s session at 157,020.79, up 457.27 points or 0.29 percent.

Thursday’s early surge briefly pushed the index beyond Wednesday’s intraday high, signalling continued investor confidence as the market heads towards the week’s close.

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