KSE-100 maintains upward momentum, closes at 189,167 as institutional buying dominates PSX

Sustained institutional buying helped the Pakistan Stock Exchange’s benchmark KSE-100 Index extend its upward trajectory on January 23, with the market adding nearly 1,500 points in a session marked by strong liquidity and sectoral rotation.

The index traded within a broad band of over 2,900 points, reflecting active participation from both buyers and sellers. After opening at 187,926, the market briefly dipped to 186,637 before staging a recovery. Persistent buying pushed the benchmark to a high of 189,566, and it eventually settled at 189,166 points.
The net gain of 1,478 points confirmed bullish control.
Sector leadership
Fertilizer stocks once again took center stage. FFC delivered the largest positive impact, contributing over 1,500 points alone. Market strategists said the stock’s consistent earnings profile and dividend yield continue to attract institutional funds.
Engro Fertilizers and Engro Holdings also posted solid gains, while Hubco and Pakistan Oilfields provided additional strength.
Together, these stocks drove the majority of the day’s rally.
Trading statistics
Market liquidity remained impressive, with volumes nearing 408 million shares among index constituents. This suggests long-term positioning rather than speculative trading.
Performance numbers remain strong:
FYTD return: 50.58%
CYTD return: 8.68%
These gains reflect sustained recovery in Pakistan’s capital markets.
Laggards
Meanwhile, select exploration and banking counters witnessed declines. OGDC, PPL, UBL, and NBP slipped as investors booked profits after recent gains.
Nevertheless, their impact was marginal compared to gains from heavyweights.
Market sentiment
Brokerage houses noted that improving macroeconomic fundamentals, controlled inflation, and steady currency trends are supporting equities. Many investors are gradually shifting funds from fixed income toward stocks for better returns.
If these conditions persist, analysts expect the KSE-100 to test higher resistance levels in the near term.
Friday’s session reinforced confidence that Pakistan’s equity market remains on a firm footing heading into the next trading week.