Pakistan's stock market achieved a remarkable milestone on the final day of the trading week as the Karachi Stock Exchange crossed 189,000 mark on Friday.

PSX notched another all-time high close, with the KSE-100 Index settling at 189,167, up 1,479 points (+0.79%).

"During the AM session, the market remained range-bound between 187–188k," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. "However, momentum accelerated in the PM session, as rumors of a potential stock split in FFC fueled buying interest, pushing the index past 189k to a record close."

On the macro front, the SPI for the week ended 22-Jan-2026 rose 4.18% YoY, while declining 0.48% WoW, indicating easing short-term inflationary pressure.

On the index contribution front, FFC alone added 1,514 points, driven by split-related speculation. Additionally, EFERT, POL, HUBC, and ENGROH collectively contributed 690 points. Conversely, PIOC, OGDC, UBL, NBP, and PPL faced selling pressure, cumulatively shedding 478 points.

Overall market participation remained strong, with 875.49mn shares traded and total turnover of PKR 58.5bn. KEL topped the volume chart, with 141.4mn shares exchanged.

Weekly Outlook

PSX witnessed a strong week, with the KSE-100 Index gaining 4,068 points (+2.2%). The index opened at 186,151, touched an intra-week high of 189,567, and recorded a low of 186,127, before closing the week at 189,167.

Going forward, all eyes are on the Monetary Policy meeting scheduled for Mon, Jan 26, 2026, with the market expecting a 50–100bps rate cut. The decision is likely to set the market’s near-term direction.