PSX closes near record high of 158,000 points

Pakistan Stock Market closed at a record high — close to 158,000 points — on Thursday on the back of renewed buying interest from institutional investors and some high-net-worth individuals.

The benchmark KSE-100 Index recorded its highest-ever close in the rally led by participation in technology, refinery, banking, food, and investment banks, with broad-based gains lifting investor sentiment.

The surge in volumes highlighted renewed confidence, particularly in second- and third-tier stocks, which remained in focus throughout the session.

Consequently, the benchmark KSE-100 reached an intraday high of 158,083, up by 1,905 points from the previous day, but closed at 157,953 points, 47 short of the 158,000-point mark.

Another factor that boosted the share price was the defense agreement signed with Saudi Arabia. Experts hoped that the move to strengthen ties with Saudi Arabia might yield some economic benefits, such as foreign investment, rollovers of loans, increased deposits to boost Pakistan’s reserves, and an expanded facility to buy oil from the kingdom.

An analyst from Al-Habib Capital Markets said the rebound of the benchmark KSE-100 Index was fueled by strong participation in the banking and energy sectors as investors took positions at attractive valuations, further supported by continued rupee strength and optimism over a favorable outcome of the IMF review scheduled for later this month.

Top contributors to the index included Engro Holdings (ENGROH), National Bank of Pakistan (NBP), Mari Energies Limited (MARI), Bank of Punjab (BOP), and United Bank Limited (UBL), collectively adding 733.49 points. Trading volume was led by Cnergyico PK Limited (CNERGY) with 213.09 million shares, while overall market turnover stood at 1,959.10 million shares.