NBP leads the charge with nearly 10% surge as investor confidence soars
The Pakistan Stock Exchange (PSX) ended the week on a bullish note as the benchmark KSE-100 index surged by over 1,600 points, closing at a record high of approximately 154,280. This historic rally was led by the National Bank of Pakistan (NBP), which hit its upper circuit with a sharp 9.88% gain to reach Rs171.98. Investor sentiment was lifted following NBP’s corporate briefing, which hinted at a promising year-end dividend. The bank’s commitment to shedding excess capital, despite legal limitations under the NBP Act, further boosted market confidence. The rally extended beyond banking, with strong performances from cement, power, and energy stocks. Hubco rose 4.59%, Lucky Cement climbed 2.93%, and both DG Khan Cement and Pakistan Petroleum Ltd added significant value to the index. However, stocks like Fauji Fertiliser Company, UBL, and Systems Ltd applied slight downward pressure. Market activity remained vibrant, with volumes crossing 1.08 billion shares and total traded value hitting Rs59.9 billion. Adding fuel to the momentum were announcements of $1.5 billion in joint ventures and $7 billion in MoUs between Pakistani and Chinese firms in solar energy and agriculture. Analysts now expect the KSE-100 to target 156,500 points next, with 151,000 serving as a key support level.
