PSX soars over 3,800 points in early trade, heads for strong close to week

KARACHI: The Pakistan Stock Exchange (PSX) surged sharply on the last trading day of the month and the week, as the benchmark KSE-100 index gained strong momentum during the early hours of trade on Friday.

The market opened in the green and maintained an upward trajectory, driven by robust investor sentiment and improved buying activity across key sectors. By 9:26 AM, the KSE-100 index had jumped 2,304.86 points to reach 159,037.73, with trading volume recorded at around 26.5 million shares.

The rally gained further strength as the session progressed, pushing the index up by 3,802.73 points to 160,535.60 by 11:00 AM when volumes climbed to nearly 169.2 million shares.

As of 11:14 AM, the benchmark index stood at 160,084.63, showing a net gain of 3,351.76 points or 2.14 percent, with total traded volume rising to over 184.7 million shares. During the session, the index touched an intraday low of 158,195.54 points while the day’s range so far stood between 158,195.54 and 160,535.60 points.

On a yearly basis, the PSX has shown remarkable growth, up 79.94 percent over the past year, while its year-to-date performance reflects a 39.05 percent increase. Over the last 52 weeks, the market has traded between a low of 88,852.68 and a record high of 169,988.62 points.

Among the most active stocks during the session were K-Electric Limited (KEL), WorldCall Telecom (WTL), and Bank of Punjab (BOP). Pak Elektron Limited (PAEL) stood out with a notable gain of 8.09 percent to Rs52.50, while First National Equities Limited (FNEL) rose 9.98 percent to Rs16.97.

Leading advancers included companies such as GEMB Cements, IMS, and SHCM, each recording double-digit percentage gains, while the top decliners were JSCLPSA and GEMBLUEX, both falling around 10 percent.

The strong recovery follows a weak session on Thursday when the KSE-100 index had closed at 156,732.87, down by 1,732.18 points or 1.09 percent. The previous session saw a broad-based sell-off, with 293 stocks closing in the red.

Friday’s sharp rebound indicates renewed investor confidence as the market eyes a strong close to the week.