The Pakistan Stock Exchange (PSX) demonstrated robust performance on Friday, with the benchmark KSE-100 index achieving a historic intraday high by surpassing the psychological threshold of 95,000 points. Despite reduced trading volumes compared to the prior session, the market remained firmly entrenched in positive territory throughout the day.
Global equity markets showed mixed trends. Crude oil prices moved south, with WTI crude oil falling by 0.70% to $68.22. While Brent crude oil was down by 0.74% to $72.02. (As at 4:39 PM PST, Source: Investing.com).
On a weekly basis, the KSE-100 index posted a gain of 1.58%, bolstered by a strong rally in the last session of the week. The index surged by 1,086.38 pts during the session reaching an intraday peak of 95,278.27 firmly crossing the 95,000-point threshold. It eventually closed at 94,763.64 up by 571.75 pts. Other key indices also showed substantial growth, with the KMI-30 index rising by 895.11 pts to close at 144,543.26, while the KSE All-Share index gained 272.20 pts to settle at 60,578.76.
Investor participation declined with trading volumes falling to 892.46 mn shares from the previous session’s 1.08 bn shares. Worldcall Telecom Limited (WTL, 2.90%), Fauji Foods Limited (FFL, +10.05%), and Hascol Petroleum Limited (HASCOL, +0.37%) led the volume charts, recording trades of 77.99 mn, 70.72 mn and 55.50 mn shares, respectively.
Sector-wise contributions to the KSE-100 index’s gains were led by the banking sector (+319.73 pts), Power Generation and Distribution sector (+89.70 pts) and Technology & Communication sector (+62.35 pts). Among individual companies, United Bank Limited (UBL, +115.46 pts), Habib Bank Limited (HBL, +63.82 pts) and Meezan Bank Limited (MEBL, +60.64 pts) emerged as the top contributors. The Banking sector gained 1.20% in its cumulative market capitalization. Meezan Bank Limited (MEBL +1.83%), United Bank Limited (UBL +2.24%), MCB Bank Limited (MCB +0.61%) and Habib Bank Limited (HBL +2.56%), all closed in positive territory.
