PSX gains over 1,700 points to breach 138k mark

KARACHI: The Pakistan Stock Exchange (PSX) continued its upward momentum on Thursday as the benchmark KSE-100 Index surged past the 137,400 mark in early trade, buoyed by robust investor sentiment, strong corporate earnings, and steady foreign inflows.

As of 10:14am, the KSE-100 was trading at 137,339.20, up by 959.24 points or 0.70 per cent from the previous close. Moments later, the index climbed further to 137,418.89, showing an overall gain of 1,038.93 points or 0.76 per cent. During the session so far, the index has swung between an intraday low of 136,674.98 and a high of 137,452.12. Market turnover remained healthy, with over 80 million shares changing hands, while the traded value reached nearly Rs4.94 billion.

On Wednesday, the KSE-100 had settled at 136,379.96, posting a gain of 440.09 points or 0.32 per cent. The index had fluctuated in a wide range of over 1,600 points during the previous session, touching a high of 137,232.10 and a low of 135,542.88, backed by optimism over monetary policy easing and favourable valuations.

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According to market analysts, the 135,000 level continues to act as a key support zone for the index, reinforced by consistent foreign participation and positive earnings guidance. Ali Najib, Deputy Head of Trading at Arif Habib Limited, noted that if this level holds, the market may maintain its current momentum. However, any breach could push the index down towards 132,000, where attractive valuations and expectations of lower interest rates may once again draw investor interest. 

Among individual stocks, notable gainers included ALAC, TRSM, ZTL, and PSEL, all of which rose by around 10 per cent or more. On the downside, RUBY, JSGCL, and FEM were among the top decliners in early trade. 

The KSE-100 has gained 19.29 per cent year-to-date and nearly 68 per cent over the past twelve months, reflecting growing investor confidence amid signs of economic stabilisation.

The KSE-100 Index crossed the 138,000 mark around 12:04pm, rising to a record high of 138,168.37 after gaining 1,788.41 points, with the volume reaching 147,285,298 shares at the time.

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