By Recorder Report

Copyright brecorder

KARACHI: Pakistan Stock Exchange (PSX) closed on a bullish note Thursday as across-the-board buying, spurred by news of a mutual defense agreement signed between Pakistan and Saudi Arabia, pushed key indices to fresh highs for the week.

The benchmark KSE-100 Index surged 1,775.65 points, or 1.14 percent, to settle at 157,953.47 points, compared to the previous session’s close of 156,177.82. During the session, the index touched an intraday high of 158,082.55 and never fell below 156,978.85. The strong close near the day’s peak highlighted sustained buying interest that continued into the final hour.

The BRIndex100 ended at 16,307.12 points, up 236.23 points or 1.47 percent, with a total turnover of 1,662.88 million shares. The BRIndex30 also posted a robust gain, climbing 1,163.4 points or 2.31 percent to 51,537.30 points, with 1,118.41 million shares traded.

Topline Securities noted that bulls stampeded across the trading floor as the market celebrated the signing of the Strategic Mutual Defense Agreement during Prime Minister Muhammad Shehbaz Sharif’s visit to Riyadh. Blue-chip stocks underpinned the rally, with ENGROH, NBP, MARI, UBL, and BOP collectively contributing 733 points to the index.

Investor participation was broad-based, with 332 companies recording gains, 124 posting losses, and 29 remaining unchanged out of 485 traded scrips. Ready market turnover surged to 1.95 billion shares from 1.49 billion in the previous session, while traded value rose sharply to Rs56.93 billion from Rs48.85 billion. Market capitalization increased by nearly Rs184 billion to reach Rs18.54 trillion, reflecting the depth of liquidity behind the rally.

Cnergyico PK topped the turnover chart with more than 213 million shares changing hands, closing at Rs8.41. WorldCall Telecom followed with a robust volume of 141.83 million shares, rising to Rs1.78, while Fauji Foods Ltd posted an impressive turnover of 101.8 million shares to finish at Rs21.51.

Companies reflecting the highest price increases included Supernet Technologies Limited, which surged by Rs89.54 to close at Rs984.93, and Nestle Pakistan Limited, which advanced Rs75.78 to settle at Rs8,425.78. On the downside, Unilever Pakistan Foods dropped Rs160.72 to Rs32,439.26, while Rafhan Maize Products declined Rs115.57 to Rs9,583.98 as profit-taking emerged in select high-value stocks.

Among sectoral indices, the BR Automobile Assembler Index closed at 25,257.47 points, gaining 43.4 points or 0.17 percent with 6.30 million shares traded. The BR Cement Index rose to 13,490.17 points, up 136.96 points or 1.03 percent on 84.74 million shares.

The BR Commercial Banks Index jumped 633.7 points or 1.41 percent to 45,710.87 points, with 173.73 million shares traded, while the BR Power Generation and Distribution Index increased 240.32 points or 0.94 percent to 25,822.55 points.

The BR Oil and Gas Index gained 161 points or 1.19 percent to close at 13,724.75 points, and the BR Technology and Communication Index advanced 22.69 points or 0.64 percent to 3,591.22 points, supported by a robust 302.92 million shares in turnover.

Ismail Iqbal Securities observed that investor confidence soared on the back of the defense pact, with trading volumes hitting the second-highest level in PSX history. Analysts believe that if this momentum continues, the KSE-100 could soon test the 160,000 mark, provided macroeconomic conditions remain favorable.

Copyright Business Recorder, 2025