The Pakistan Stock Exchange (PSX) surged to an all-time high on Friday, with the KSE-100 Index closing at 154,277, up 1,612 points in a single session. This marks the first time the index has surpassed the 154,000 level.

The rally was spearheaded by the National Bank of Pakistan (NBP), which surged 9.88% to Rs171.98 after its Corporate Briefing reignited expectations of a healthy year-end dividend. The management hinted at optimising capital levels, though the NBP Act restricts payouts to year-end results, said Ali Najib, Deputy Head of Trading Arif Habib Ltd.

Cement stocks also lit up the board, with DG Khan Cement hitting the upper circuit at +10%, while POWER, GWLC, MLCF, and LUCK advanced between 3%–7.5%, cementing sector-wide bullish momentum.

Liquidity remained exceptionally strong, as 1.07 billion shares worth nearly Rs60 billion exchanged hands. Bank of Punjab (BOP) dominated volumes with 146 million shares traded, underscoring heightened risk appetite as investors chased record territory.

After a brief pause last week, the PSX reignited its bullish charge, gaining 3.81% on week on week basis (+5,659 points). The index opened at 149,079, swung between 148,500 and a record high of 154,511, before closing the week at 154,277.

Analysts point to renewed investor confidence, driven by hopes of economic recovery, a narrowing trade deficit, and a potential farmer relief package. The 150,000-point level now acts as a strong support, with momentum suggesting the rally could continue.