PSX closes at record 157,020 as heavyweights fuel bullish momentum

KARACHI: The Pakistan Stock Exchange (PSX) closed at a record high on Wednesday as market heavyweights attracted robust flows, reinforcing the bullish undertone, according to Topline Securities.

The KSE-100 index swung between an intraday high of 915 points and a low of 484 points before settling at 157,020, up 457 points or 0.29 per cent. The session marked a new all-time high both intraday and at close.

Oil and gas exploration, fertilizer and chemical stocks led the gains, adding 374 points to the index, while EFERT, PPL, BAHL, LCI and MARI collectively contributed 363 points. On the downside, ENGROH, UBL, HBL, FFC and MEBL shaved off 316 points.

“Strong momentum carried through the session, supported by broad-based investor participation,” said Mubashir Anis Naviwala, research analyst at JS Global. Total traded volume reached 996 million shares, with WTL, BOP, KEL, SSGC and FNEL leading activity.

Investor sentiment was further buoyed by the book-building of IMAGE REIT, which was fully subscribed within just 90 minutes and has already reached 1.15 times subscription.

On the corporate front, Interloop Limited (ILP) announced its FY25 results, posting earnings per share of Rs3.96 alongside a cash dividend of Re1 per share, beating industry expectations.

Overall, trading activity remained strong, with volumes clocking in at 993 million shares and a traded value of Rs52.6 billion. WTL led with 75.5 million shares changing hands.

On the other hand, Finance Minister Muhammad Aurangzeb on Wednesday said he was confident inflation would remain under control, supported by easing global oil prices, while the government focuses on flood relief, recovery and infrastructure rebuilding.

He made the remarks during a meeting with a Pakistan Business Council (PBC) delegation, led by CEO Javed Kureishi and Chairperson Dr Zeelaf Munir, at the Finance Division.

Inflation outlook and flood response

Aurangzeb told the PBC team that the economy is showing positive signs, with indicators moving in the right direction. He said the government is actively managing the flood crisis, outlining measures for rescue, relief and rehabilitation, while applying lessons from the 2020 floods.