Bulls marched ahead on the trading floor of the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index surging past the historic 99,000 as the trading session began on Friday.
By 11:20 AM, the KSE-100 had climbed to 99,469.12, reflecting a gain of 2,140.73 points or 2.2% from the previous close of 97,328.39. The index also touched its highest-ever level of 99,623.03 during intraday trading.
However, as the session progressed, a wave of profit-taking reversed most of the morning’s gains. The KSE-100 index eventually fell back to the 97,500 range, erasing nearly all of its intraday rise. This marked the continuation of a trend observed in recent weeks, where investors booked profits amid heightened market activity.
Towards the end of the trading session, the market was able to consolidate itself closing at 97,798 points.
The initial rally was driven by strong buying activity in key sectors such as automobile assemblers, cable and electrical goods, cement, commercial banks, and power generation.
Stocks like BOP, HASCOL, FFL, KEL, and PIBTL showed positive trading trends, supported by easing investor concerns over political protests planned for November 24. Optimism surrounding economic indicators and market stability further contributed to the upward momentum.
Earlier on Thursday, the KSE-100 had recorded its highest-ever closing level at 97,328.39, up by 1,781 points or 1.86%. The recent rally has been fueled by improved macroeconomic indicators, increased investor confidence, and expectations of further reductions in interest rates.
Despite the intraday volatility, the PSX remains on an upward trajectory, driven by strong economic fundamentals, a stable rupee, and declining interest rates. Analysts remain optimistic about the market’s potential for further growth, as institutional buying and improving market conditions continue to support the positive trend.
The benchmark KSE-100 Index is forecast to increase to 127,000 points by December 2025, or a 34% rise, from the 94,704 points it closed last Friday, according to Topline Securities Ltd. In a report announced on November 16, Arif Habib Ltd. targets the index to reach at least 120,000 points.
“The stage is set for a potential market re-rating with declining interest rates, a stable rupee, and improving macroeconomic indicators,” Karachi-based brokerage Arif Habib commented in a report.
