RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Thursday as the government’s decision to slash National Savings Scheme rates, reduce industrial power tariffs, and accelerate deliberations on the privatization of state-owned enterprises fueled market momentum.

The benchmark KSE-100 Index surged to a fresh all-time high, rising by 342 points or 0.26 percent to close at 130,686.66 points, surpassing the previous day’s close of 130,344.03 points. During the session, the index touched a historic intraday high of 131,325.11 points and a low of 129,776.20 points, maintaining strong momentum throughout the day amid aggressive institutional buying and steady investor confidence.

On Thursday, BRIndex100 closed at 13,337.88 points, gaining 62.03 points or 0.47 percent with a total volume of 680.48 million shares, while BRIndex30 settled at 39,307.54 points, up by 482.73 points or 1.24 percent with a total turnover of 297.04 million shares.

Director at Arif Habib Corporation, Ahsan Mehanti stated that stocks closed higher at new all-time high after the government slashed National Savings Scheme (NSS) rates, diverting investor interest towards equities, while Central bank’s foreign exchange reserves climbed to $14.5 billion also play a positive role. Thin inflation readings, a reduction in industrial power tariffs, and government deliberations over the privatization of state-owned enterprises also played a catalytic role in this bullish close at PSX, he added.

Trading activity, though marginally lower, remained robust with a total of 899.85 million shares traded in the regular market, compared to 1.026 billion shares a day earlier. The traded value also declined to Rs 43.25 billion from Rs 49.29 billion previously. Despite this, the market capitalization rose by Rs 55 billion to Rs 15.767 trillion from Rs 15.712 trillion, reflecting increased valuations driven by positive investor sentiment.

Among the volume leaders, WorldCall Telecom led the chart with 49.45 million shares, closing at Rs 1.59, followed by Image Pakistan with 36.65 million shares at Rs 32.47, and Bank of Punjab with 35.06 million shares, ending at Rs 11.52.

In terms of major price movers, PIA Holding Company Limited jumped by Rs 1,956.21 to close at an extraordinary Rs 21,518.31, while Unilever Pakistan Foods gained Rs 197.50, finishing at Rs 23,600. Conversely, Bhanero Textile dropped Rs 56.55 to close at Rs 920.51, and S.S. Oil Mills declined by Rs 54.38 to Rs 867.82.

The BR Automobile Assembler Index ended the session at 21,082.64 points, up by 33.9 points or 0.16 percent, with a total traded volume of 4.71 million shares. The BR Cement Index also posted gains, closing at 10,567.43 points after adding 26.79 points or 0.25 percent, on a turnover of 22.10 million shares.

In contrast, the BR Commercial Banks Index declined by 369.24 points or 1 percent to settle at 36,408.36 points, with the volume of 144.59 million shares. The BR Power Generation and Distribution Index saw a strong performance, rising 349.91 points or 1.7 percent to close at 20,971.52 points, with a turnover of 32.55 million shares.

Meanwhile, the BR Oil and Gas Index gained 151.94 points or 1.24 percent to finish at 12,358.83 points, trading 75.37 million shares. The BR Technology & Communication Index edged up slightly by 1.47 points or 0.05 percent, closing at 2,984.62 points with a healthy volume of 106.41 million shares.

In its daily commentary, JS Global Capital stated that the bullish momentum, driven by strong institutional buying and optimism over earnings particularly in the energy sector (OGDC, MARI, PPL), fueled early gains. Although profit-taking pared initial advances, the index stayed in the green.

With positive macroeconomic indicators and sustained investor confidence, the market is expected to maintain its upward trajectory in the near term, though intermittent corrections remain likely, it added.