The Pakistan Stock Exchange (PSX) saw a strong recovery on Friday as the KSE-100 index surged by 1,020.04 points, marking a 0.9% increase. This jump brought the index to 114,856.78 points during intra-day trading, signaling a wave of optimism among investors.
The market reached a high of 114,960.52 points while dipping to a low of 113,571.95 during the session. Friday’s trading volume stood at 94.34 million shares, with a total value of Rs10.21 billion. Compared to the previous session’s close of 113,836.74 points, the significant gain highlighted improved market sentiment.
This positive shift coincided with the announcement of a high-profile court verdict sentencing former Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan to 14 years in prison in a £190 million case. The verdict seemed to ease some political uncertainty, boosting investor confidence and contributing to the market’s rally.
Key stocks contributing to Thursday’s losses included Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), and Fauji Fertiliser Company. However, Friday’s rally showed a reversal in trends, with gains seen in stocks like Engro Holdings, Habib Metropolitan Bank, and Pakgen Power.
Analysts believe the market’s rebound is a sign of recovery, though sustained improvement depends on resolving political issues and stabilizing the economy. Despite the challenges earlier in the week, the market displayed resilience, offering hope for a stronger performance ahead.
Investors will be closely monitoring upcoming developments in the economy and politics to gauge the long-term direction of the stock market. For now, Friday’s rally is a welcome relief, reflecting a surge in optimism and a brighter outlook for the PSX.
