PSX-3rd October | The Express Tribune
Key Takeaways
- The KSE-100 index hit a new all-time high, closing at 168,990 points on Friday.
- The rally was primarily driven by robust market liquidity and strong investor enthusiasm.
- Fertiliser, Automobile Assemblers, and Power Generation sectors led the index gains.
- The Banking sector significantly dragged the index down due to valuation concerns.
- Analysts noted the index's 46.79% year-to-date surge but cautioned about potential profit-taking from overbought conditions.
The KSE-100 index in Pakistan soared to a new all-time high on Friday, concluding the day at 168,990 points after gaining 500 points (0.30%), signaling strong investor confidence supported by high market liquidity. Trading volumes increased significantly to 831 million shares, reflecting renewed interest from both retail and institutional investors, contributing to a 46.79% year-to-date surge. Key sectors driving the rally were Fertiliser, Automobile Assemblers, and Power Generation & Distribution, benefiting from strong earnings outlooks and favorable policies. However, the Banking sector acted as a drag, losing 475 points due to valuation concerns, while Pharmaceuticals also saw a decline. Analysts from Ismail Iqbal Securities confirmed the rally was sustained by ample liquidity and sectoral rotations but warned that the index's overbought status might trigger further profit-taking soon. Fatima Fertiliser Company was among the top individual gainers, while Mari Petroleum and Maple Leaf Cement were notable decliners.
