KARACHI: The bullish momentum at the Pakistan Stock Exchange (PSX) continued for a second straight session on Friday, with the benchmark KSE-100 Index surging by 868.68 points to close at 119,840.08 — up 0.73% on the day. The rally pushed the index to its highest level in recent months, closing in on the psychological 120,000 mark amid optimism around macroeconomic indicators and corporate performance.
The session began with a strong buying trend that carried over from Thursday, when the index had posted a gain of 638 points. The KSE-100 touched an intraday high of 119,503.12 in the morning and maintained upward momentum through the day, closing near session highs.
Market activity was supported by strong interest in index-heavy sectors, including cement, chemicals, commercial banks, fertilisers, oil and gas exploration, refineries, OMCs, and power generation. Notable gainers included HUBCO, MARI, OGDC, PPL, PSO, NRL, PRL, HBL, MCB, NBP, and UBL — all of which traded in the green and contributed significantly to the index’s advance.
Investor sentiment remained upbeat, buoyed by recent macroeconomic data indicating a sharp decline in inflation, a current account surplus, and Fitch’s upgrade of Pakistan’s sovereign credit rating to ‘B-’. Expectations of monetary easing and improving foreign exchange reserves also contributed to the positive outlook.
The two-day rally has added more than 1,500 points to the benchmark index, reflecting renewed investor confidence and strong institutional participation. Analysts suggest that if macroeconomic stability holds and clarity emerges on political and external financing fronts, the market may see further upside in the coming weeks.
