The Pakistan Stock Exchange (PSX) concluded Friday’s session at a historic high, with the benchmark KSE-100 Index surging past the 134,000 psychological barrier for the first time. The index closed at 134,299.77, marking a gain of 517.42 points (0.39%) and cementing a 1.8% weekly advance.
Market activity remained robust as the index fluctuated between an intraday high of 134,931.96 and a low of 134,130.41. Broad-based buying dominated trading, particularly in auto assemblers, power generation, and oil-related sectors. United Bank Limited (UBL), Hub Power Company (HUBC), and Millat Tractors (MTL) emerged as top index contributors, gaining 2.4%, 1.6%, and 2.76% respectively.
Trading volumes reached 765 million shares, though slightly lower than Thursday’s 941.8 million, with a total value of Rs40.1 billion changing hands. Market breadth showed 220 advancing stocks against 228 decliners, while 29 scrips remained unchanged.
Read: PSX KSE-100 Surges 1.2% as Banking Stocks Rally on Strong Macroeconomic Data
Corporate developments included United Bank’s impressive first-half FY25 results, reporting earnings per share of Rs26.07 – a 99% year-on-year increase. The bank declared a dividend of Rs 19 per share, exceeding analyst expectations.
Arif Habib Limited’s market commentary noted that while some financial stocks like Bank Al Habib (-3.3%) and MCB Bank (-1.04%) weighed on the index, the overall sentiment remained bullish. The brokerage identified 132,000 as crucial support and 136,000 as the next resistance level.
Sector-wise performance highlighted continued investor confidence in cyclical and energy stocks. The cement sector also contributed significantly to the rally, with Kohat Cement (KTML) and Bestway Cement (BWCL) among notable gainers.
Market analysts attribute the sustained bullish trend to improving macroeconomic indicators and foreign investor interest. With the index establishing a new record territory, technical analysts suggest the momentum could continue in the coming sessions, provided key support levels hold
 to close at record 134,299. Auto, power and energy sectors led gains amid strong investor sentiment.){kind=link}