Karachi, May 21, 2025 – The Pakistan Stock Exchange (PSX) witnessed another bullish session on Wednesday as the benchmark KSE-100 index surged, closing just below its all-time high.
The index gained 960 points during the day, finishing at 119,931 points—just shy of the record intraday level of 119,962 points set on May 15, 2025.
Starting the day on a strong note, the KSE-100 index rallied past the significant 120,000 mark during intraday trading, posting a high of 1,135 points. However, the index could not sustain this momentum through the session and eventually settled just below the milestone. Despite the slight pullback, market analysts considered the close at 119,931 to be a strong performance, reflecting investor confidence and renewed market optimism.
Analysts at Topline Securities attributed the bullish trend to strong interest in large-cap stocks, which dominated the day’s gains. Major players such as National Bank of Pakistan (NBP), Bank Al Habib Limited (BAHL), United Bank Limited (UBL), Oil and Gas Development Company (OGDC), and Pakistan Petroleum Limited (PPL) were key drivers, collectively adding approximately 480 points to the index.
Investor enthusiasm was further boosted by positive developments in the energy sector. The government’s recent approval of Rs34 billion in overdue payments via petroleum price adjustments has unlocked the path for significant upgrades in Pakistan’s refining capacity. This policy move allows all five major refineries to launch $6 billion in modernization projects, spurring fresh activity in refinery stocks. As a result, shares of National Refinery Limited (NRL), Pakistan Refinery Limited (PRL), and Attock Refinery Limited (ATRL) closed higher, reflecting positive sentiment in the sector.
Market activity remained vibrant, with total traded volumes reaching an impressive 667 million shares. The total traded value stood at Rs26.61 billion, showing strong participation from institutional and retail investors alike. K-Electric (KEL) led the volume charts with over 103 million shares traded.
Looking ahead, analysts maintain a bullish view on the KSE-100 index, citing strong corporate earnings, favorable government policies, and improving macroeconomic indicators. The index is expected to continue its upward trajectory, potentially surpassing the all-time high in coming sessions if momentum holds.