KARACHI: Sentiment at the Pakistan Stock Exchange (PSX) remained positive, with the market climbing to an all-time high, fueled by optimism over the upcoming budget announcements.
The benchmark KSE-100 Index gained 1,425.39 points or 1.20 percent, closing at an all-time high of 119,962 points on Thursday against 118,536.53 points on Wednesday. Overall, some 699 million shares were traded on Thursday up from 609 million a day earlier.
On Thursday, BRIndex100 opened at 12,670.63 points and finally closed at 12,887.79 points, which was 217.16 points or 1.71 percent higher than previous close. Total volume at BRIndex100 remained 615.524 million shares. BRIndex30 also gained 748.65 points or 2 percent to settle at 38,116.12 points with the total volume of 50.818 million shares.
Analysts at the Topline sales desk noted that the government’s efforts to finalize a binding legal framework between Oil Marketing Companies and refineries are expected to bring greater clarity and stability to the supply chain.
The share trading value decreased to Rs. 39.08 billion on Thursday as compared to Rs 41.91 billion a day earlier. With an increase of Rs 174 billion, the market capitalization rose to Rs.14.38 trillion from Rs.14.21 trillion. Out of the total 458 companies, 312 companies share prices went up while share value of 107 companies went down, though 39 companies’ share value remained unchanged.
Refinery stocks were among the top performers, ending the day in the green amid sector-specific developments. Pak Refinery was the volume leader with around 51 million shares traded and closed at Rs. 33.82 followed by Cnergyico PK that closed at Rs.7.85 with around 47.5 million shares. K-Electric Ltd ranked third with share trading of 40 million shares and it closed at Rs. 4.45.
PIA Holding Company LimitedB along with Rafhan Maize Products Company Limited remain the top gainers increasing by Rs 1,029.56 and Rs 209.99 respectively to close at Rs 11,325.15 and Rs 9,201.27, while Hoechst Pakistan Limited and Bata Pakistan Limited were the top losers declining by Rs 104.90 and Rs 46.18 respectively to close at Rs.3,155.10 and Rs.1,550.00.
Heavyweights such as United Bank Limited, Engro Corporation, Hub Power Company, Fauji Fertilizer Company Limited, and Millat Tractors Limited led the charge, collectively contributing 656 points to the index.
BR Automobile Assembler Index closed at 22,288.12 points, rising by 60.68 points or 0.27 percent, with a turnover of 7.52 million shares. BR Cement Index surged to 10,292.18 points, posting a gain of 150.73 points or 1.49 percent, on a turnover of 56.16 million shares.
BR Commercial Banks Index closed at 34,704.30 points or 1.48 percent, with 35.53 million shares traded. Meanwhile, BR Power Generation and Distribution Index ended at 19,811.64 points, improving by 290.65 points or 1.49 percent, with a total turnover of 58.85 million shares.
BR Oil & Gas Index closed at 11,900.02 points or 1.1 percent up, on 71.68 million shares turnover. BR Technology & Communication Index finished at 4,980.44 points marking a positive change of 75.78 points or of 1.55 percent, with total turnover of 82.887 million shares traded.
Topline analysts further observed that the market’s strong performance reflects investor confidence in the upcoming budget announcements and the government’s efforts to resolve sector-specific issues. With the benchmark index at an all-time high, market participants are eagerly awaiting further developments that could shape the market’s future trajectory.
Analyst at Arif Habib ltd. noted that US publication Barron’s has praised Pakistan’s recent recovery, calling it a “macroeconomic miracle”. With the KSE-100 once again approaching the 120,000 mark, this level remains crucial heading into the last session of the week.
A recent report published by famous US publication Barron’s highlights Pakistan’s “macroeconomic miracle” amid global attention. The country’s economy has transformed from high inflation to near-zero rates, and Eurobonds have doubled in value, while the KSE-100 index has also tripled, showcasing the market’s impressive turnaround, it added.
Analyst at JS Global Muhammad Hasan Ather noted that bulls dominated the PSX on Thursday as investors preferred to take positions primarily in oil & gas sector over expectations of resolution of circular debt. Apart from this, buying was also seen in fertilizer, refinery, and automobile stocks. Eventually, the benchmark KSE-100 index managed to close at 119,962, up 1,425 points. Moving forward, updates related to Federal Budget would drive the market sentiments, he added.
Copyright Business Recorder, 2025
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