PSX Extends Record Run as Bulls Push Index Higher
The Pakistan Stock Exchange (PSX) sustained its upward momentum on Thursday, with the benchmark KSE-100 Index gaining more than 700 points in the opening minutes of trading.
At 10am, the index was recorded at 152,974.07, marking an increase of 772.20 points or 0.51%. During the session, it touched an intra-day high of 153,117.26, underscoring bullish sentiment among investors.
Market participants showed strong interest in key sectors including cement, commercial banks, oil and gas exploration, refineries, power generation, and oil marketing companies. Heavyweights such as ARL, MARI, POL, PPL, PSO, SGNPL, HBL, MCB, MEBL, and NBP were all trading in the green.
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The rally comes a day after the PSX closed at an all-time high, with the KSE-100 surging 1,226.39 points or 0.81% to settle at 152,201.88 on Wednesday. Analysts attribute the bullish trend to improving macroeconomic sentiment and renewed confidence in the market’s fundamentals.
Global cues also provided a supportive backdrop. Asian markets opened higher after dovish signals from US Federal Reserve officials suggested the possibility of upcoming rate cuts. The Nikkei 225 gained 1.2%, while Australian shares rose 0.8%. However, the Shanghai Composite declined 1.6% following reports of regulatory cooling measures in China.
Despite concerns over bond markets and the fiscal health of major economies, investor optimism prevailed in Pakistan’s equity market, supported by both local fundamentals and external sentiment.