PSX soars past 120,000 milestone, closes slightly lower

KARACHI: The Pakistan Stock Exchange (PSX) kicked off Wednesday’s session with a bullish rally, as the benchmark KSE-100 Index surged past the 120,000 milestone, hitting an intraday high of 1,135 points.

However, the index was unable to sustain the momentum and closed just below the mark at 119,931 points — still posting impressive gains of 960 points, or 0.81 per cent, according to Topline Securities.

Investor sentiment remained upbeat, particularly in large-cap stocks, which attracted significant interest. Notably, NBP, BAHL, UBL, OGDC, and PPL collectively contributed around 480 points to the index’s rise.

“The benchmark index closed on a strong positive note. Investors remained active ahead of the FY26 budget, strategically realigning portfolios in anticipation of key fiscal measures,” stated Ismail Iqbal Securities.

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The refinery sector also saw increased activity after the government approved the clearance of Rs34 billion in pending dues through petroleum pricing — a move that paves the way for all five refineries to initiate $6 billion in upgrade projects. As a result, stocks like NRL, PRL, and ATRL closed higher, Topline Securities noted.

Market participation remained robust, with traded volumes reaching 667 million shares and a total traded value of Rs26.61 billion. K-Electric (KEL) led the volume board, with 103 million shares changing hands.

In Monday’s session, the benchmark index recorded an intraday high of 211 points and a low of 1,163 points, eventually closing at 118,971 — down 719 points, or 0.60 per cent — amid continued profit-taking and the absence of positive triggers.