PSX Closes Higher Amid Post-Eid Holiday Rally]
KARACHI: The Pakistan Stock Exchange (PSX) ended higher in the post-Eid session on Friday, buoyed by positive sentiment following the two-day week-long holiday break. The benchmark KSE-100 index climbed above the 174,000-point level, closing up 2,238 points, or 1.30 per cent, at 173,963, reaching an intraday peak of 174,106.35.
Analysts attributed the gains to improved investor sentiment driven by encouraging developments in ongoing US-Iran negotiations and declining international oil prices. Broad-based buying activity followed positive news flow during the Eid holidays, with expectations of a diplomatic breakthrough continuing to support market mood.
Key contributors to the rally included Fauji Fertiliser, Engro Holdings, Lucky Cement, Engro Fertiliser, Bank Al-Habib, Habib Bank, Mari Energies, TRG Pakistan, Services Industries, and Millat Tractor Ltd, together adding 1,773 points to the index.
Fauji Fertiliser led individual stocks, gaining Rs21.75 (4pc) after signing a $1.1 billion agreement with China’s Hualu to develop a coal-based fertiliser project under CPEC 2.0.
Market volume increased 9.61 per cent to 555 million shares, with total turnover jumping 31.24 per cent to Rs40.8 billion. TRG Pakistan remained the most actively traded stock with 34.1 million shares exchanged.
The week closed with the KSE-100 index posting a gain of 6,119 points, or 3.65 per cent, hitting an intraweek high of 174,106 and a low of 170,162.
Topline Securities noted that diplomatic momentum in US-Iran talks and easing oil prices supported equity trading during the session.
While the positive trend is expected to continue, uncertainty around a final agreement may introduce volatility in regional markets going forward.
