PSX Ends November on High Note: KSE-100 Hits 166,678 Points Amid Tax Relief Buzz and Sector Gains
KARACHI: PSX closed November 2024 on a strong note, as the KSE-100 Index extended its upward momentum to settle at 166,678 points, gaining 1,304 points (up 0.99%).
“The market opened firmly and sustained its positive trajectory throughout the session. The rally was fueled largely by institutional buying following media reports that the Prime Minister has directed the FBR to reduce the super tax rate on large corporations, boosting investor sentiment,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
On the macro side, the Sensitive Price Index (SPI) for the week ending 27-Nov-2025 rose 4.32% year-on-year and 0.73% week-on-week. Meanwhile, on the corporate front, GHNI announced a partnership with Zhongtong Bus Holding to introduce and distribute luxury buses in Pakistan, adding excitement to the market.
Sector-wise, Technology, E&P, Power, and Cement were the key drivers of today’s BullRun, with SYS, PPL, HUBC, OGDC, and LUCK collectively contributing 609 points to the index’s advance.
Market participation remained strong, with 589.7 million shares traded and a total turnover of Rs 41.9 billion. SSGC topped the volume chart with 39.1 million shares traded.
Weekly Review:
PSX wrapped up the week on a strong note, posting a gain of 4,575 points or 2.82%. The KSE-100 Index opened at 162,206 and climbed to a weekly high of 167,005, while the low touched 160,565. The benchmark ultimately closed the week at 166,677, reflecting improved sentiment and sustained buying interest across key sectors.
Outlook:
PSX closed both the week and month on a strong note, with the KSE-100 index breaking above the 166k mark in the final session.
Looking ahead, the index is expected to extend its bullish trend in the coming session and may even challenge new all-time highs in the upcoming week, given the strong momentum. However, on the downside, the 165k level is likely to act as the first key support.