KARACHI
\nThe Pakistan Stock Exchange (PSX) surged to a record high on Friday, with the benchmark KSE 100 index breaking the 172,000-point barrier for the first time after subdued performances in early sessions of the short-week.
\nThe PIA privatisation, hailed as the most significant transaction in nearly two decades, appeared to have bolstered investor confidence, particularly amid calls from industry leaders for the divestment of more loss-making state-owned enterprises.
\nAli Najib, Deputy Head of Trading at Arif Habib Ltd, described the session as \u201cstrong\u201d, with the KSE 100 index closing at 172,401, an increase of 1,571 points. He added that market sentiment remained buoyant throughout the day as investors rebuilt positions following the conclusion of roll-over week.
\nThe Asian Development Bank (ADB) approved $730 million in financing for a power transmission project and the transformation of state-owned enterprises (SOEs). The funding will be divided into two parts: $330 million for the second power transmission strengthening project and $400m for the SOE reform programme.
\nMeanwhile, the Sensitive Price Index (SPI), which tracks weekly price changes for essential consumer goods, rose 2.83pc year-on-year for the week ending Dec 25. This marks the 21st consecutive week of rising prices.
\nMarket participation dipped by 1.67pc, reaching 797 million shares. However, the traded value jumped by 27.74pc, totalling Rs38 billion. WorldCall Telecom led the volume chart with over 79.3 million shares traded.<\/p>\n
Among the top contributors to the market rally, Engro Holdings, Pakistan Petroleum, Systems Ltd, National Bank, and Maple Leaf Cement Factory collectively added 775 points. On the other hand, Lucky Cement, Millat Tractors, Rafhan Maize Products, DH Partners, and Pakistan Services Ltd combined to subtract 133 points from the index.<\/p>\n
Analysts remain optimistic, with some suggesting that the closing above 172,000 signals strong momentum that could drive the market even higher in the coming sessions. However, the 170,000-point mark remains a critical support level, and a drop below it could lead to a phase of consolidation.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) surged to a record high on Friday, with the benchmark KSE 100 index breaking the 172,000-point barrier for the first time after subdued performances in early sessions of the short-week. The PIA privatisation, hailed as the most significant transaction in nearly two decades, appeared to have bolstered investor confidence, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-522521","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n