KSE-100 Gains 414 Points Amid Surplus, IMF Optimism
KARACHI: The Pakistan Stock Exchange (PSX) closed on a bullish note Friday, with the benchmark KSE-100 index rising 414.45 points (0.35%) to settle at 117,315.59. Investor sentiment was buoyed by positive macroeconomic indicators and expectations surrounding the IMF programme.
Key drivers included a record current account surplus of $1.2 billion in March, easing inflation, steady remittances, and speculation over an upcoming IMF tranche. Hopes for a policy rate cut and renewed momentum on privatisation of state-owned enterprises also lifted market confidence.
“Robust economic data, including low inflation and record remittances, helped lift the market,” said Arif Habib Corp MD Ahsan Mehanti. He also pointed to Fitch’s projection of 3% GDP growth and a 2% primary surplus in FY25 as supporting sentiment.
Despite brief negative price action, the index mostly stayed in the green, reaching an intra-day low of 116,759 before closing higher.
Top contributors included UBL, Lucky Cement, Sazgar Engineering, Meezan Bank, and Systems Limited, collectively adding 913 points. UBL surged 9.57% following a strong Q1 2025 earnings report with record diluted EPS of Rs28.9, a Rs11 interim dividend, and a 2-for-1 stock split.
JS Global’s Muhammad Hasan Ather highlighted that the record surplus marked a dramatic turnaround from February’s $97 million deficit, reinforcing investor confidence in Pakistan’s external stability.
Trading volumes rose to 425.1 million shares (up from 408.1 million), with total turnover at Rs34.5 billion. Out of 446 traded companies, 189 gained, 197 declined, and 60 remained unchanged.
Volume leaders included Sui Southern Gas (38.2 million shares, up Rs1.64 to Rs42.47), Pakistan International Bulk Terminal (31 million shares), and K-Electric (22.9 million shares). Foreign investors offloaded shares worth Rs149 million, per NCCPL data.
