Karachi: Pakistan’s stock exchange extended its upward impulse on Friday, with the KSE-100 reference index that broke another milestone to close in a record of 134,300, up to 517 points or 0.39 percent, in the back of the wide base purchase and strong earnings ads.
The values of the upper line attributed profits to consistent entries of mutual funds, as investors continue to change fixed income to capital funds. Pakistan Ltd’s National Clearing Company data confirmed the trend.
The main positive contributions came from United Bank Ltd, Hub Power, Millat Tractors, Kohinor Textile Mills and Pakistan State Oil, which collectively added 430 points to the index.
Ali Najib, Deputy Director of Commerce of Arif Habib LTD, said the index negotiated in both directions during the session, but ended with a strong note, backed by healthy macroeconomic indicators and optimistic corporate profits.
A key driver of the Friday rally was the announcement of UBL of his highest and most quarterly cash dividend from RS8 per action (RS20BN), along with his second quarter results. The Bank recorded RS11.43 profits per share, up to 93pc year after year. Although the profits were in line with the expectations, the dividend exceeded the forecasts of the RS5.5 market per action, which reflects strong profitability and an approach to the returns of the shareholders.
The general mood was even more raised by the foreign foreign exchange reserves that reached a maximum of 36 months of more than $ 20 billion and a strong performance by the automotive sector, which grew 43pc in the 2015 fiscal year, exceeding expectations.
However, the profits in some banking actions slightly compensated the profits.
The market share decreased, with 764 million negotiated shares, lower 18.75 percent from the previous session, while the commercial value increased 11.38pc to RS40.16 billion. The Punjab Bank (BOP) led the volume table with 94.1 million shares changing hands.
The feeling of investors remains optimistic, with support levels increasing to 132,000 and 130,000, reflecting the confidence in the sustainability of the current demonstration.
The current profit season, especially in the bank and cement sectors, together with improved macroeconomic indicators, such as strong remittances, external financing tickets and the revised expenditure of the Public Sector Development Program (PSDP) of RS1.05TT for FY25, are considered key catalysts.
Posted in Dawn, July 12, 2025
