KARACHI: The Pakistan Stock Exchange (PSX) on Thursday turned in yet another bullish performance as investors continued building positions at attractive levels, pushing the benchmark index close to the 164,000-point barrier intraday.

According to Topline Securities Ltd, the PSX opened on a strong positive footing, extending overnight upbeat momentum as the benchmark index surged to an impressive intraday high of 1,591 points. Mid-session volatility did emerge, trimming early gains and pulling the index down to an intraday low of 420 points — though it remained in positive territory throughout the day.

Despite the fluctuations, the market held its ground and closed firmly in the green at 162,936, posting an increase of 710.66 points or 0.44 per cent. The day’s movement reflected a tug of war between cautious bears attempting to cap the rally and resolute bulls defending the upward trajectory.

Index-heavy stocks, including Mari Energies, Hub Power, Oil and Gas Development Company, Pakistan Petroleum, and Systems Ltd, posted notable gains, collectively adding 476 points to the benchmark. On the flip side, Meezan Bank, Fauji Fertiliser, Pakistan Oilfield and Engro Fertiliser, together shaved 100 points off the index.

Investor participation re­­mained subdued, with total trading volume plun­ging 29.5pc to 725.86m shares, while the traded value dipped 21.8pc to Rs35.3 billion. Bank Makramah led the volume chart with 103 million shares changing hands.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX carried forward its bullish mome­ntum, hitting 163,818 in initial trade, but at the day’s high, investors started trimming their positions to take profits, which pulled the index to 162,647 intraday.

On the macro front, the Large-Scale Manufac­tu­ring output grew by 2.7pc year-on-year in Septem­ber, accompanied by a 2pc uptick on a month-on-month basis.

Moreover, repatriation of profits and dividends on foreign investments during July-October FY26 reached $1,137 million, up from $818m last year, an increase of $319m or 39pc.

Published in Dawn, November 21st, 2025