Share prices consolidated their values at Pakistan Stock Exchange on Friday, with index racing to a new all-time high, reported 24NewsHD TV channel.
Trading showed renewed investor confidence in PSX, driven by strategic diplomacy and economic stability.
During intraday trading, the PSX’s benchmark KSE-100 Index gained 652.76 points to reach 158,606 points or 0.41 percent, another all-time high for the national bourse.
Overall, 439 companies transacted shares in the market so far, out of which 256 posted gains, 166 sustained losses, while 17 remained unchanged.
Experts say the rally was fuelled by Pakistan’s new Strategic Mutual Defence Agreement (SMDA) with Saudi Arabia, signed during Prime Minister Shehbaz Sharif’s visit to Riyadh.
The pact pledges that any aggression against either country will be considered an attack on both, sending a strong signal of stability to the market.
Earlier on Thursday, the KSE 100-index had surged by 1,775.65 points, a positive change of 1.14 percent, closing at 157,953.47 points.
The market saw robust activity with 1,959,100,058 shares traded, valued at Rs56.93 billion, compared to 1,499,302,473 shares worth Rs.48.85 billion the previous day.
Top trading companies by volume were Cnergyico PK with 213,091,825 shares at Rs8.41 per share, WorldCall Telecom with 141,834,094 shares at Rs1.78, and Fauji Foods Ltd with 101,805,720 shares at Rs21.51.
Supernet Technologies Limited recorded the highest increase, rising by Rs.89.54 to close at Rs984.93, followed by Nestle Pakistan Limited, which gained Rs75.78 to close at Rs8,425.78.
On the downside, Unilever Pakistan Foods Limited lost Rs.160.72, closing at Rs.32,439.26, while Rafhan Maize Products Company Limited declined by Rs115.57 to close at Rs9,583.98.
In the futures market, 358,784,000 shares were traded, valued at Rs.12.71 billion, compared to 270,465,500 shares worth Rs.12.44 billion the previous day.
Among 319 companies, 246 advanced, 71 declined, and 2 remained unchanged.
Leading futures turnover included KOSM-SEP with 44,666,500 shares at Rs.8.01, CNERGY-SEP with 29,877,500 shares at Rs.8.45, and FFL-SEP with 29,203,500 shares at Rs.21.63.
GHNI-OCT recorded the highest gain, rising by Rs.15.44 to Rs.868.00, while GAL-OCT declined by Rs.14.00 to Rs.585.00.
Reporter: Kawish Memon