KARACHI: Pakistan Stock Exchange (PSX) continued its remarkable upward trajectory on Thursday as the Index surged to a new historic closing high, supported by declining Pakistan Investment Bond (PIB) yields, encouraging macroeconomic indicators, and heightened merger and acquisition activity across key sectors.
The benchmark 100 index advanced by 1,646.79 points, or 0.97 percent, to close at 171,960.65, after scaling an intraday high of 172,248.94.
The BRIndex100 closed at 18,288.59, gaining 231.42 points or 1.28 percent, with a total traded volume of 568.19 million shares. In contrast, the BRIndex30 edged down by 85.03 points, or 0.14 percent, to close at 59,142.99.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the benchmark index decisively crossed the 171,000-point threshold on sustained buying momentum, indicating strong underlying demand and improved risk appetite.
The rally translated into a notable expansion in market capitalisation, which rose to Rs19.498 trillion, reflecting strong investor participation and renewed confidence in equities.
According to Topline Securities, the decline in PIB yields acted as a key catalyst for aggressive buying by local funds, particularly in index-heavy stocks. The brokerage noted that ENGROH, FFC, UBL, LUCK, and BAHL collectively contributed more than 1,500 points to the benchmark, underscoring the dominance of large-cap stocks in driving the day’s gains.
Trading activity remained elevated, reflecting sustained market engagement. Ready market volumes surged to 950.1 million shares, with a total traded value of Rs 54.07 billion.
TPL REIT Fund I topped the volume chart with 75.8 million shares changing hands, followed by Hascol Petroleum, Siddiqsons Tin Plate, and Hum Network, all of which recorded heavy turnover during the session.
On the corporate front, Rafhan Maize Products led the gainers, surging Rs 848.93 to close at Rs 10,227.25, driven by acquisition-related optimism. On the downside, Hoechst Pakistan Limited recorded the largest decline of the session, shedding Rs 82.19 to close at Rs 4,412.81, amid stock-specific selling pressure.
The BR Automobile Assembler Index settled at 24,047.52, recording a decline of 19.03 points or 0.08 percent, with a total turnover of 1.88 million shares.
The BR Cement Index closed at 14,191.42, posting a gain of 106.22 points or 0.75 percent, while total volume stood at 52.83 million shares.
The BR Commercial Banks Index ended the session at 51,671.55, advancing by 752.38 points or 1.48 percent, with 99.11 million shares traded.
The BR Power Generation and Distribution Index finished at 27,343.62, slipping 37.66 points or 0.14 percent, on a turnover of 67.80 million shares.
The BR Oil and Gas Index closed at 14,475.21, down 47.64 points or 0.33 percent, with trading volume of 57.67 million shares.
Looking ahead, market participants remain cautiously optimistic about near-term prospects. Ali Najib observed that while the market may attempt to scale further highs in the final session of the week, sustaining the bullish trend would require a decisive weekly close above the 170,000-point level, which would help confirm the broader upward momentum.
Copyright Business Recorder, 2025