PSX bulls in control as KSE-100 index hovers near fresh peak

KARACHI: Bulls kept control of the Pakistan Stock Exchange (PSX) on Thursday as upbeat economic sentiment and strong sectoral performance pushed the benchmark KSE-100 Index higher during intraday trading.

The market picked up right from the opening bell, with the index gaining more than 700 points in the first few minutes of activity.

Strong opening momentum

At 10:00 AM, the KSE-100 was hovering at 152,974.07, reflecting an increase of 772.20 points or 0.51 percent. Investors showed strong buying interest across key sectors including cement, commercial banks, exploration and production, oil marketing companies, power generation, and refinery counters.

Index-heavy names such as ARL, MARI, POL, PPL, PSO, SNGPL, HBL, MCB, MEBL, and NBP all traded comfortably in the green, helping the index maintain momentum.

Index touches fresh high before profit-taking

The rally gathered pace shortly after, with the benchmark climbing to an intraday high of 153,411.05 around 10:39 AM, marking a surge of 1,209 points. Volumes at that stage stood at more than 123 million shares, underlining strong participation from both institutions and retail investors.

By the afternoon, however, some profit-taking kicked in, causing the index to ease slightly from its peak. At 2:19 PM, the benchmark was trading at 152,675.25, up 473.38 points or 0.31 percent from the previous close.

So far, the index has moved within a range of 152,264.96 to 153,411.05 during the session, while total volume has crossed 281 million shares. Year-on-year, the KSE-100 has gained nearly 94 percent, while its year-to-date increase stands above 32 percent, reflecting the impressive recovery of the equity market.

Sector performance and investor sentiment

Market performance has been driven by selective interest in banking and energy stocks, while cement and refinery sectors have also added fuel to the rally.

Among gainers, Bank of Punjab, TRG, PSX, DG Khan Cement, and Mari Petroleum were seen advancing sharply in percentage terms, reflecting investor appetite for both cyclical and defensive plays.

On the flip side, some heavyweights like HBL, OGDC, INIL, and AGP Corporation saw mild declines, indicating pockets of profit-taking as the index hovers near record highs.

The broader trend, however, remains positive. Analysts say sentiment is being lifted by expectations of policy stability, a relatively stable rupee, and optimism around corporate earnings. The KSE-100 had already closed Wednesday’s session with a hefty gain of 1,226 points at 152,201.87, setting the stage for Thursday’s continuation of momentum.

Market outlook

With the benchmark index now within touching distance of the 153,500 level, traders are watching closely whether the bulls can extend their grip into the closing hours.

Market observers believe that as long as volumes remain strong and key financial and energy stocks hold ground, the PSX is likely to stay buoyant. However, given the sharp run-up in recent days, some analysts caution that bouts of profit-taking are natural and could cap intraday gains.

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