PSX gains over 2,000 points, crosses 140k mark in record-breaking rally

KARACHI: The Pakistan Stock Exchange (PSX) witnessed strong upward momentum in early trading on Friday, extending its bullish run from the previous session.

The benchmark KSE-100 index opened sharply higher and crossed the 140,000 mark for the first time in history, as investors continued to bet on an interest rate cut in the upcoming monetary policy.

At the opening bell, the KSE-100 index surged by 1,456 points, reaching 140,122.09, with the trading volume at 2.41 million shares. However, by 9:24 AM, the index saw a slight pullback, easing to 139,457 points, though it still stood 791.51 points higher than the previous close. Trading volume at that point rose to 9.15 million shares.

The market regained strength shortly afterwards. By 9:32 AM, the index had rallied further to 140,428.35, posting a gain of 1,762.86 points. Continued buying pushed the index higher by 9:43 AM, as it climbed to 140,585.38, up 1,919.89 points, with volume swelling to 29.05 million shares.

At 9:39 AM, the KSE-100 index stood at 140,460.33, marking an intraday gain of 1,794.84 points or 1.29 per cent. The session’s high so far was 140,460.33, while the intraday low remained at 139,457.00. Traded volume had crossed 25.52 million shares by that point.

Investor enthusiasm remains high amid expectations of a policy rate cut later this month, following a notable drop in yields in the recent Pakistan Investment Bond (PIB) auction. A stable external account position and signs of easing inflation have further strengthened this outlook.

The KSE-100 Index had closed at a record high of 138,665.49 on Thursday, gaining 2,285.53 points or 1.68 per cent. The session had seen an intraday peak of 138,943.47 and a low of 136,674.98, with total traded volume of 299.28 million shares.

As of Friday morning, the index has posted a year-to-date gain of 22 per cent and a staggering 71.63 per cent increase over the past 12 months. The 52-week range for PSX now stretches from 76,943.24 to 140,460.34.

Among the top performers in early trade were ALAC (up 10.56 per cent to Rs10.47), TRSM (up 10.29 per cent to Rs10.72), and GOC (up 10 per cent to Rs122.72). Other notable advancers included PRET, AHTM, and PSEL, each rising 10 per cent.

On the flip side, key decliners included GEMBCEM (down 10 per cent to Rs10.80), PIAHCLB (down 10 per cent to Rs34,461.47), and BFMOD (down 8.58 per cent to Rs11.50). HICL, SZTM, and BTL were also among the laggards, reflecting profit-taking in some sectors.

Within the KSE-100 index, early losers included FHAM, falling 3.88 per cent to Rs23.55; AICL, slipping 2.49 per cent to Rs71.36; and NBP, which declined 1.36 per cent to Rs127.10. Other key names such as GADT, ISL, and RMPL also saw mild corrections.

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