KSE-100 up 414 points amid strong economic numbers

ARACHI: The Pakistan Stock Exchange (PSX) continued the positive momentum for the second consecutive session on Friday. The benchmark KSE-100 index increased by 414 points amid strong economic numbers, including record current account surplus, lower inflation and higher remittances.

The index increased by 414.45 points, or 0.35 per cent, to 117,315.59 points, up from the 116,901.13 points recorded in the last session. The highest index of the day remained at 117,888.13 points, while the lowest level was recorded at 116,759.07 points.

Analyst Ahsan Mehanti at Arif Habib Ltd said, “Stocks closed higher as investors weigh robust economic data of record current account surplus, low inflation and remittances in March. Fitch eyeing GDP growth to edge up to 3.0 per cent, primary surplus 2.0 per cent of GDP in FY25 and current account deficit to 1.0 per cent of GDP.”

He said that speculations over the likely receipt of the IMF EFF and RSF tranche, SBP policy easing next month and deliberations over privatisation of SOEs played a catalyst role in the bullish close.

The KSE-30 index increased by 183.72 points or 0.51 per cent to 36,116.37 points from 35,932.66 points.

Traded shares increased by 17 million shares to 425.121 million shares from 408.066 million shares. The trading value rose to Rs34.495 billion from Rs32.127 billion. Market capital expanded to Rs14.345 trillion against Rs14.292 trillion. Of the 446 companies active in the session, 189 closed in green, 197 in red and 60 remained unchanged.

Analyst Nabeel Haroon at Topline Securities said the index largely traded in the positive zone during the trading session which can be attributed to positive news flow -- Pakistan recording its highest-ever monthly current account surplus in the month of March of $1.195 billion and Pakistan’s real effective exchange rate (REER) dropping to 101.62 in March 2025 from 102.25 in February 2025 as data released by the State Bank of Pakistan (SBP).

Top positive contributions to the index came from UBL, LUCK, SAZEW, MEBL and SYS, as they cumulatively contributed +913 points to the index.

Traded value-wise SAZEW (Rs2.41 billion), PSO (Rs2.26 billion), MARI (Rs1.77 billion), UBL (Rs1.74 billion) and LUCK (Rs1.72 billion) dominated the trading activity. UBL continued to garner investor interest on its strong financial results.

The highest increase was recorded in PIA Holding Company Limited B, which rose by Rs192.90 to Rs2,121.87 per share, followed by Hoechst Pakistan Limited, which increased by Rs155.91 to Rs3,197 per share. A significant decline was noted in Rafhan Maize Products Company Limited, which fell by Rs18.57 to Rs8,931.43 per share; Colgate-Palmolive (Pakistan) Limited followed it, which closed lower by Rs17.79 to Rs1,371.15 per share.

Muhammad Hasan Ather, an analyst at JS Global, said Pakistan’s record-breaking current account surplus boosted investor confidence. “This unprecedented economic indicator marks a dramatic turnaround from last month’s $97 million deficit, providing strong fundamental support for the ongoing bull run,” he said. With the market testing new highs, investors appear increasingly optimistic about Pakistan’s improving external position, which could translate into greater monetary flexibility and economic stability, going forward.”

Sui South Gas remained the volume leader with 38.238 million shares, which closed higher by Rs1.64 to Rs42.47 per share. Pak Int. Bulk, with 30.965 million shares, followed it, which closed higher by 18 paisas to Rs10.61 per share.

Other significant turnover stocks included K-Electric Ltd., Cnergyico PK, Maple Leaf, WorldCall Telecom, Pak Elektron, Habib Bank, Oilboy Energy (R), and B.O. Punjab. In the futures market, 309 companies recorded trading, 132 of which increased, 172 decreased, and 5 remained unchanged.