PSX jumps past 125,000 as buying returns across key sectors

KARACHI: The Pakistan Stock Exchange (PSX) opened on a strong note on Friday, with the benchmark KSE-100 index posting notable gains in early trade. Within the first 20 minutes of the session, the index surged by 475.11 points to reach 122,521.59 at around 9:18 AM, supported by a trading volume of 1.13 million shares. 

Momentum continued to build as the morning progressed, and by 11:14 AM, the index had climbed 1,277 points to hit 123,323.50, with the volume rising to over 51.5 million shares. The rally extended further just before midday, when the index was seen at 123,551.22, up by 1,504 points, with volumes crossing 57.6 million shares around 11:27 AM. 

On a year-on-year basis, the PSX had gained 57.26 per cent by 11:25 AM. In year-to-date terms, the market was up by 7.27 per cent. The benchmark index has traded within a 52-week range of 76,943 to 126,718 points. 

Among the top gainers were First Elite Capital Modaraba (FEM), which rose by 20.35 per cent to Rs5.56, and IMS with a 15.63 per cent gain to Rs7.40. CTM followed with a 14.6 per cent rise to Rs5.81, while TSPL and SHNI each gained around 14.5 per cent to Rs7.89 and Rs8.00, respectively. Other notable gainers included FTMM, PINL, FFLM, BML, and DEL, all of which posted double-digit percentage increases. 

On the other hand, the biggest losers were BF Modaraba (BFMOD), which dropped by 10 per cent to Rs11.25, and IDSM, down 9.97 per cent to Rs14.08. GEMNETS also saw a 9.92 per cent decline to Rs26.62, while FECM lost 8.48 per cent to Rs38.00. SHCM, 786, NITGETF, AMBL, KSTM, and FIBLM were also among the top decliners, with losses ranging from 6 to nearly 8 per cent. 

After the break, around 2:35 PM, the PSX staged a major comeback, surging by 3,238.59 points to reach 125,285.05. The trading volume at that time stood at 101,242,163 shares. 

Broad-based buying was seen across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and refineries, all of which traded in the green. Index-heavy stocks such as MARI, OGDC, POL, PPL, PSO, SSGC, HBL, MCB, and UBL also posted gains. 

Previous close

In the previous session on Thursday, the KSE-100 index had closed at 122,046.46, shedding 715.18 points, or 0.58 per cent. It moved in a wide range of 1,275 points during the day, touching a high of 123,417.87 and a low of 122,142.42. The total volume stood at 244.24 million shares. 

Key stocks that dragged the index down on Thursday included BAHL (-116.30 points), LUCK (-94.95 points), HBL (-88.30 points), PSEL (-63.12 points), and SYS (-44.34 points). On the positive side, ENGROH added 124.68 points to the index, followed by NATF (+48.88), PPL (+29.53), GHGL (+28.20), and TGL (+25.10). 

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