PSX extends rally, settles above 134,000
The Pakistan Stock Exchange extended its bullish momentum on Friday, with the benchmark KSE-100 index breaching yet another milestone to close at a record 134,300 — up 517 points or 0.39pc — on the back of broad-based buying and strong earnings announcements. Topline Securities attributed the gains to consistent inflows from mutual funds, as investors continue to shift from fixed-income to equity funds. Data from the National Clearing Company of Pakistan Ltd confirmed the trend. Major positive contributions came from United Bank Ltd, Hub Power, Millat Tractors, Kohinoor Textile Mills, and Pakistan State Oil, which collectively added 430 points to the index. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the index traded both ways during the session but ended on a strong note, supported by healthy macroeconomic indicators and upbeat corporate earnings.