The Pakistan Stock Exchange (PSX) hit a new high of 173,963 as KSE-100 Index gained 2,238 points following positive developments in US-Iran negotiations.
The Pakistan Stock Exchange (PSX) experienced robust growth on Friday, with the benchmark KSE-100 Index surging by 2,238 points or 1.30% to close at a record high of 173,963. The market opened strongly, buoyed by improved investor sentiment amid encouraging progress in ongoing United States-Iran negotiations and declining international oil prices.
According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, the positive developments over Eidul Azha holidays contributed significantly to the market's bullish momentum. "Broad-based buying emerged as expectations of a potential diplomatic breakthrough continued to drive optimism," said Najib. Key contributors to Friday’s rally included FFC, ENGROH, LUCK, EFERT, BAHL, HBL, MARI, TRG, SRVI & MTL, which collectively added 1,773 points to the index.
Notably, FFC led the pack by surging Rs21.75 (up 4%) after signing a $1.1 billion agreement with China’s Hualu to establish a coal-based fertiliser project under CPEC 2.0. This deal underscores the ongoing economic activities and potential for growth in Pakistan.
Overall market participation remained stable, with traded volume reaching 550.4 million shares and turnover settling at Rs40.8 billion. TRG led the volume chart, trading 34.1 million shares. The KSE-100 Index also recorded a substantial weekly gain of 6,119 points or 3.65%, closing at 173,963.
Looking ahead, developments in US-Iran negotiations will remain pivotal for the market’s trajectory. Improved diplomatic momentum and easing oil prices are expected to continue supporting investor sentiment. However, uncertainty around a final agreement may introduce volatility in regional markets over the near term.
