The Pakistan Stock Exchange (PSX) continued its upward trajectory on Friday, with the KSE-100 index climbing by 498.61 points or 0.65 percent to reach a historic high of 76,706.7.
This follows Thursday’s remarkable gain of 3,411 points or 4.7 percent, marking the largest increase since the International Monetary Fund’s (IMF) bailout package last year. Positive investor sentiment was bolstered by the government’s decision to keep the capital gains tax rate unchanged.
Starting the week at 73,754 points, the PSX closed at 76,706 points, marking an increase of 2,952 points over five trading sessions.
During Friday’s trading session, the index fluctuated within a range of 1,206.89 points, peaking at 77,310.45 and dipping to a low of 76,103.56 points. Total trading volume for the KSE-100 index amounted to 212.69 million shares. Out of the 100 companies listed, 43 ended with gains, 53 with losses, 3 remained unchanged, and 1 was not traded.
The rise in the KSE-100 index was primarily driven by gains in sectors such as Commercial Banks (+706.41 points), Food & Personal Care Products (+32.05 points), Power Generation & Distribution (+26.18 points), Investment Banks / Companies / Securities Companies (+25.69 points), and Tobacco (+7.43 points). Conversely, sectors like Cement (-71.28 points), Technology & Communication (-57.35 points), Textile Composite (-29.31 points), Automobile Parts & Accessories (-22.92 points), and Miscellaneous (-22.9 points) weighed on the index.
Key contributors to the index’s rise included MEBL (+135.26 points), MCB (+127.12 points), BAFL (+117.01 points), UBL (+114.86 points), and BAHL (+94.34 points). On the other hand, notable detractors included PPL (-65.7 points), SYS (-37.6 points), ILP (-37.47 points), LUCK (-30.24 points), and PSEL (-25.89 points).
The market’s strong performance underscores growing investor confidence amidst favorable economic policies and sector-specific developments.
