PSX nears 172k on funds buying

The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Thursday as the KSE-100 index closed at a fresh all-time high and approached the 172,000 mark. Buying momentum was driven by improved investor confidence following better-than-expected November current account data and reduction in Pakistan Investment Bond (PIB) yields. Key stocks including Engro Holdings, Fauji Fertiliser Company and UBL led gains, while declines in Pioneer Cement, DH Partners and Maple Leaf Cement partially offset the advance. "Buying momentum remained firm throughout the day, driven by a better-than-expected current account for November, which improved investor confidence and encouraged fresh positioning across key sectors," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL).