Pakistan Stock Exchange (PSX) closed the week on a strong footing on Friday as the benchmark KSE-100 index surged over 1,600 points to settle at a record high of around 154,280.

The rally was spearheaded by the National Bank of Pakistan (NBP), which hit the upper circuit and skyrocketed 9.88% to Rs171.98, after its corporate briefing bolstered expectations of a healthy year-end dividend. The stock's performance alone set the tone for the session, fuelling institutional and retail interest across banking and cement counters.

Analysts noted that the NBP's management signalled it would not remain overcapitalised, a stance investors welcomed despite payout restrictions under the NBP Act.

The momentum in Friday's session was broad-based, led by financial, cement, power and energy names. Hubco gained 4.59% and Lucky Cement rose 2.93%, while DG Khan Cement and Pakistan Petroleum Ltd (PPL) also added meaningful points to the index.

In contrast, Fauji Fertiliser Company (FFC), UBL and Systems Ltd put resistance, trimming some of the gains. Overall market participation remained robust as traded volumes crossed 1.08 billion shares and value touched Rs59.9 billion.

Sentiment was further buoyed by news that Pakistani and Chinese companies signed joint venture agreements worth $1.5 billion and memoranda of understanding totalling $7 billion in the solar energy and agriculture sectors.

Analysts said these developments provided additional triggers for sustained investor optimism, with the KSE-100 poised to test fresh highs next week as support emerges at 151,000 points and the next upside target is seen at 156,500.

At the end of trading, the benchmark KSE-100 index posted a surge of 1,611.47 points, or 1.06%, and settled at 154,277.19.

"National Bank stole the spotlight, locking at the upper circuit within minutes after its corporate briefing fuelled expectations of a healthy year-end dividend," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL).

"Investors cheered the management's signal of not staying overcapitalised, though the NBP Act restricts payouts to year-end results," he added. "The stock closed 9.88% (Rs15.47) higher at Rs171.98."

In its daily report, AHL noted that the stock market closed the week with gains of 3.9% week-on-week. Among the major contributors to the index gains on Friday were NBP (+10%), Hubco (+4.59%) and Lucky Cement (+2.93%).

Topline Securities, in its market review, observed that the KSE-100 extended its advance as it surged 1.06% (+1,611 points) to close at 154,277, fueled by institutional buying in banks and cement firms. The top positive contributors were NBP, Hubco, Lucky Cement, DG Khan Cement and PPL as they contributed 1,008 points to the index.

Traded value-wise, NBP (Rs4.69 billion), Pakistan State Oil (Rs3.78 billion), DG Khan Cement (Rs3.45 billion), PPL (Rs3.38 billion) and Oil and Gas Development Company (Rs3.15 billion) dominated the trading activity, Topline said.

"PSX wrapped up the week on a historic note, with the KSE-100 index closing at an all-time high of 154,277 points," said Mubashir Anis Naviwala of JS Global.

Even in the final session, the bullish momentum remained intact, highlighting strong investor confidence. The rally was broad-based, led by cement, banking, power generation and E&P companies. Institutional and retail participation stayed robust, keeping sentiment elevated. The outlook remains bullish while dips offer attractive entry points in leading sectors, he said.

Overall trading volumes were recorded at 1.08 billion shares compared with the previous session's tally of 954.3 million. The value of shares traded was Rs59.9 billion.

Shares of 479 companies were traded. Of these, 239 stocks closed higher, 210 fell and 30 remained unchanged.

The Bank of Punjab was the volume leader with trading in 146.1 million shares, gaining Rs1.33 to close at Rs19.69. It was followed by First National Equities with 55.8 million shares, gaining Rs0.96 to close at Rs7.74 and Fauji Foods with 50.9 million shares, gaining Rs0.56 to close at Rs18.72.

During the day, foreign investors sold shares worth Rs1.6 billion, the National Clearing Company reported.



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