KARACHI – The Pakistan Stock Exchange (PSX) wrapped up a historic week as the KSE-100 index soared past the 134,000-point mark, fueled by strong corporate earnings, improved economic indicators, and growing investor confidence.
Market activity remained positive throughout the week, with major blue-chip stocks like UBL, PSO, Hubco, Millat Tractors, and Kohinoor Textile leading the charge. United Bank Limited (UBL) in particular boosted investor morale by declaring a record-breaking Rs 8 per share dividend and reporting a 93% increase in earnings per share.
Why the Rally?
- Foreign exchange reserves touched a three-year high, signaling economic stability.
- Foreign mutual funds remained active buyers, contributing to sustained upward momentum.
- Encouraging macro data like a 43% YoY rise in auto sales for FY25 added to the optimism.
Although trading volume declined slightly to 764 million shares, the overall trade value increased by 11%, reaching Rs 40.16 billion, showing that investors focused more on quality than quantity.
What’s Next?
Technical analysts believe the market may face some resistance around 136,000–138,000 points, but 132,000 points is expected to act as a strong support. With investor sentiment upbeat and earnings season continuing, the index could climb even higher in the coming weeks.
This story has been reported by PakTribune. All rights reserved.