KARACHI: In a historic trading session on Friday, the Pakistan Stock Exchange (PSX) saw the KSE-100 index skyrocket past the psychological barrier of 140,000, closing at 141,035 points—a sharp increase of 1,645 points (1.18%).
The rally was largely driven by investor optimism surrounding developments in the energy sector, including a potential US-Pakistan oil exploration deal and fresh updates on resolving circular debt. Key players in the sector led the gains, with OGDC surging 9.7%, PPL up 7.1%, PSO gaining 6.7%, and Hubco increasing 4.71%.
This sector alone added over 1,150 points to the overall rally.
Market activity was notably high, with 610 million shares traded across the board and a total traded value of Rs51 billion. WorldCall Telecom remained the volume leader, trading more than 55 million shares.
On the weekly front, the KSE-100 posted its sixth straight weekly gain, adding 1,828 points (1.31%). During the week, the index ranged between 137,659 and 141,161, reflecting strong investor confidence.
Analysts now identify 140,000 as a crucial support level. If this threshold holds, momentum could continue pushing the market upward. However, any breach might pull the index back to 138,000, where attractive valuations and possible monetary easing could re-attract buying interest.
“The continued rise of the market underscores investor optimism,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. “Economic stability, coupled with foreign investment prospects, are likely to sustain this positive momentum in the near term.”