Karachi, Pakistan – Web Desk: Pakistan’s stock market surged to record levels on Friday, driven by improving regional stability, positive economic indicators, and expectations of continued financial support from international lenders.
The benchmark KSE-100 Index climbed sharply, crossing multiple psychological barriers including 170,000, 171,000, 172,000, and 173,000 points during intraday trading before closing at 173,939.01 points, up by 4,027.06 points. Market activity remained strong, with 73% of listed shares gaining value and investors witnessing a significant increase of approximately Rs 4.48 trillion in market capitalization.
Analysts attributed the bullish momentum to improved external account performance, with the current account posting a surplus of $107 million, stronger industrial growth of 6.4%, and expectations of an early $1.2 billion tranche from the International Monetary Fund (IMF). Positive global cues, including comments on potential diplomatic progress involving Iran, also supported investor sentiment.
Meanwhile, international gold markets saw profit-taking after a recent rally, leading to a $33 per ounce decline. This pushed domestic gold prices lower in Pakistan, where the price per tola dropped by Rs 3,300 to Rs 501,562, while 10 grams fell by Rs 2,829 to Rs 430,008.
In currency markets, the Pakistani rupee continued to strengthen modestly against the US dollar. The greenback declined by 3 paisas in both interbank and open markets, closing at Rs 278.92 and Rs 280.20 respectively.
