The Pakistan Stock Exchange (PSX) seems to be on track to maintain its record-setting spree for the sixth consecutive session as a boost in investor confidence continued the upward momentum on Friday. As of publishing this report, the benchmark index  KSE-100, crossed the 146,000 point resistance level after gaining over 500 points since trading hours began.

 

According to reports, the market has been witnessing a rally because of strong buying from domestic mutual funds. Moreover, reports have also credited the exchange's exceptional performance to potential positive impacts on Pakistani companies as the 50 percent tariff rate on India imposed by American President Donald Trump rolls into action. 

 

The developments caused the index to open in the green in the early hours of the day, later reaching an intraday high of 146,451.33 points. The index peaked at approximately 9:27 AM, after which the market witnessed a minor sell off, causing the index to fall to about 146,190 points as of publishing. 

 

For reference, the KSE-100 closed at 145,647.13 points on Thursday, after which the index recorded a growth of 0.37 percent during the early hours of the day on Friday, leading to a 543.53 point rise.

 

The market displayed a slowdown around 11:09 AM as the KSE-100 hit its intraday trading low of 145,468.57 points. However, a recovery of 722 points was witnessed following the intraday trading low, allowing the index to bounce back immediately.

 

Of the 18 indexes listed on the exchange, 17 remained in the green with the All-share index (ALLSHR) growing by 0.42 percent as of publishing. The ALLSHR index recorded a climb of 378.22 points after trading hours began. Unlike the KSE-100, which tracks the performance of the 100 largest and most liquid companies, the ALLSHR index records the performance of all publicly listed companies on the PSX.

 

A number of companies witnessed a rise in share prices, with First IBL Modaraba (FIBLM) and Paramount Spinning Mills Limited (PASM) winning big, to the tune of growth rates that sat at 13.66 percent (FIBLM) and 12.08 percent (PASM).

 

However, not every publicly listed stock witnessed an improvement, as many companies witnessed sharp declines. Of these declining companies, Khairpur Sugar Mills Limited (KPUS) posted a 9.93 percent decline in its position.

 

According to the director of a reputable securities company the KSE-100 index could cross 165,000 points by the middle of FY 2025-26, owing to low interest rates and an improved state of the wider economy.