Pakistan Stock Exchange (PSX) continued its record bullish streak on Thursday as the KSE-100 index surged past 108,000-point mark, gaining more than 3,000 points on the prospects of positive economic indicators as well as ease in inflation rates.
The KSE-100 index increased by 3,134.63 points, reaching 108,238.96 points, up from the previous close of 105,104.33 points. The rally comes after Pakistan’s annual inflation rate dropped to 4.9% in November, the lowest level since 2017. The market saw significant activity, with a trading volume of 285,847,491 shares and a value of 16.21 billion Pakistani rupees.
On Wednesday, the market gained nearly 550 points and reached a new peak, getting major support from sectors such as banking, energy and technology. The positive momentum reflected the strengthening economic fundamentals and expectations of continuous growth. Investors are eyeing State Bank of Pakistan's (SBP) policy rate decision in the upcoming monetary policy committee meeting, scheduled for December 16.
Major contributors to the index gains were Mari Petroleum, Hub Power, Airlink Communication, Millat Tractors and Pakistan State Oil, which collectively added 442 points. Arif Habib Limited (AHL) commented that the PSX closed trading above the 105,000 mark in a choppy session. Despite volatility, 54 shares rose while 44 fell. Mari Petroleum (+5.05%), Hub Power (+3.55%) and Airlink Communication (+8.65%) were the biggest contributors to the index gains, it mentioned.
On the other hand, Habib Bank Limited (-2.51%), MCB Bank (-1.07%) and Service Industries (-3.47%) were the largest drags. Notable moves were seen in Pakistan Telecommunication Company Limited (+10%), Pakistan Aluminium Beverage Cans (+9.64%) and BF Biosciences (+7.82%).
The PSX continued to look higher, finding support at the 100,000 level, AHL added. Most actively traded stocks of the day were WorldCall Telecom, Cnergyico PK, Pakistan International Bulk Terminal and Pak Elektron. Key sectors, particularly energy and petroleum, showed a strong performance. Traded value, which reached an impressive Rs50 billion, reflected substantial market engagement, reinforcing the bullish momentum.