PSX closes at historic high amid earning season

KARACHI: Keeping an upward trajectory, the Pakistan Stock Exchange (PSX) closed at another new all-time high on Friday gaining 517 points or 0.39% closing at 134,299.76 level. 

“Stocks closed to a new all time high in the earnings season rally at PSX as investors weigh surging FX reserves near $20bn and upbeat auto sales data surging 38pc YoY in FY25. PSDP spending revision to Rs 1.05trn for FY25 and record remittances data played a catalyst role in new record close at PSX,” Ahsan Mehanti, CEO at Arif Habib Commodities told Hum News English.

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The benchmark KSE-100 Index extended its upward trajectory during the week, climbing to new all-time highs on the back of sustained investor optimism, Pearl Securities said, adding that the momentum was primarily driven by strong corporate earnings expectations and continued strengthening of key macroeconomic indicators.

According to the Ismail Iqbal Securities, benchmark index reached an all-time high both intraday and at market close, largely fuelled by enthusiasm surrounding the ongoing earnings season.

Cement, Automobile Assembler, and Power Generation & Distribution sectors were the major contributors in today’s session, cumulatively adding 293 points to the index.

Continuing its momentum KSE 100 Index extended its gain by 0.39% to close at 134,300 level, this positivity can be attributed to continuous inflow from Mutual Funds on conversion from fixed income funds to equity funds, as indicated by National Clearing Company Limited data, Topline Securities stated.

Top positive contributions to the index came from UBL, HUBC, MTL, KTML and PSO, as they cumulatively contributed +430 points to the index, Topline added.

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Traded value wise UBL (PKR.2.32bn), DGKC (PKR.1.64bn), ATRL (PKR.1.61bn), HUBC (PKR.1.44bn), BOP (PKR.1.24bn) & MLCF (PK1.19) dominated the trading activity.

Traded value and volume for the day stood at 764mn shares and PKR.40bn respectively.