PSX Index Soars Past 131,000 in Record-Breaking Bull Run

ISLAMABAD: The Pakistan Stock Exchange (PSX) continued its historic upward momentum on Thursday, with the benchmark KSE-100 index breaking past the 131,000-point mark for the first time ever. Fueled by aggressive institutional buying and renewed investor confidence, the index rallied to an intraday high of 131,258 points in early trade, gaining 913 points.

By 11:00 am, some profit-taking trimmed earlier gains, bringing the index down to 130,767 points—still up 422.97 points or 0.32 percent. The strong rally comes just a day after the PSX posted an all-time high of 130,344.03 points on Wednesday, registering a sharp surge of 2,144.61 points or 1.67 percent.

Market breadth remained positive in early trading, with share prices of 222 companies rising, 205 declining, and 17 remaining unchanged out of the 444 companies traded so far.

The bullish trend reflects growing optimism among both local and foreign investors, amid signs of macroeconomic recovery and expectations of monetary easing. Analysts attributed the rally to value-hunting activity as investors rotate from low-yielding fixed-income assets into equities in search of higher returns.

The banking sector led Wednesday’s surge, with major players including United Bank, MCB Bank, Bank Al-Habib, Meezan Bank, Habib Bank, and National Bank contributing a combined 1,285 points to the index. Their appeal was boosted by expectations of improved financial results, attractive dividend yields, and potential rate cuts by the central bank.

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The pharmaceutical sector also gained traction, with The Searle Company hitting its upper circuit breaker. Other notable gainers included Citi Pharma Ltd, Haleon Pakistan Ltd, and Abbott Laboratories (Pakistan) Ltd.

Trading volumes remained robust, with 1.02 billion shares traded on Wednesday and a total value of Rs49.29 billion. Worldcall Telecom Ltd dominated the volume chart, with 89.8 million shares changing hands.

Market watchers suggest that, barring external shocks, the PSX may maintain its bullish momentum in the near term as sentiment remains upbeat and liquidity continues to flow into equities.