KARACHI: Buying at dips allowed the Pakistan Stock Exchange (PSX) to extend overnight recovery momentum in the weekend session, pushing the benchmark KSE 100 index to near 168,000 intraday as positive developments on the economic front kept investors in an enthusiastic mood.

Ali Najb, the Deputy Head of Trading at Arif Habib Ltd, stated that the market is currently in a consolidation phase, bolstered by significant developments. One key factor is the rollover of a $3 billion deposit from Saudi Arabia with the State Bank of Pakistan for an additional year, which has provided essential support to the external sector. Furthermore, media reports indicate that the president has approved the summary for the appointment of the Chief of Defence Forces, which helps to alleviate uncertainty on this front.

However, the index closed at 167,085.85 points, up 802 points, or 0.48 per cent, on Friday.

On the corporate front, Service Industries announced that its subsidiary, Service Long March Tyres (SLM), would raise capital through an Initial Public Offering and pursue listing on the PSX.

Market participation improved as trading volume rose 13pc to 687 million shares, while value surged 33.24pc to Rs41.6bn. Telecard Ltd topped the volume chart with 58 million shares.

Topline Securities Ltd said recovery was observed in the market, thanks to buying by local institutions, which came in to buy at the dip.

The top positive contributors to the index were Fauji Fertiliser, Pakistan Petroleum, Oil and Gas Development Company, Pakistan Services, Lucky Cement and Systems Ltd, which cumulatively contributed 607 points. Anal­ysts believe the market is likely to attempt to set an all-time high, with the energy sector likely to lead the rally in the sessions to come. This expectation is driven by market sentiment ahead of a potential circular debt disbursement next week, which could fuel fresh buying interest in key E&P and power sector stocks.

Published in Dawn, December 6th, 2025