PSX Hits Historic High as KSE-100 Index Crosses 165,000 Mark

KARACHI – The Pakistan Stock Exchange (PSX) witnessed a historic rally on Tuesday, with the benchmark KSE-100 Index breaching both the 164,000 and 165,000 levels for the first time ever. Driven by a wave of across-the-board buying, the index surged to a record intraday high of 165,315 points, registering a gain of 1,467 points during the session.

The sharp rise was supported by robust investor interest across key sectors, including cement, energy, oil and gas, pharmaceuticals, and banking. Major contributors to the rally included heavyweights such as Attock Refinery (ARL), Hub Power Company (HUBCO), Oil and Gas Development Company (OGDC), Pakistan Oilfields (POL), Pakistan Petroleum Limited (PPL), Sui Northern Gas Pipelines (SNGP), Sui Southern Gas Company (SSGC), MCB Bank, Meezan Bank (MEBL), and United Bank Limited (UBL), all of which traded in the green.

Read more: PSX surpasses 163,000 mark in historic first as bullish momentum continues

The bullish momentum was evident from the start of the trading day. By 9:35am, the index had already gained over 900 points, hovering around 164,751, as investor sentiment remained strong in sectors such as automobiles, commercial banking, fertiliser, oil and gas exploration, oil marketing companies, power generation, and refineries.

Market optimism was further buoyed by the beginning of critical negotiations between Pakistan and the International Monetary Fund (IMF) for the second review of the $7 billion Extended Fund Facility (EFF) and the first review of the Resilience and Sustainability Facility (RSF). These talks cover key areas such as fiscal performance, governance reforms, the National Fiscal Pact, capital market reforms, and improved transparency in development spending. Analysts attributed the rally partly to expectations of progress in these discussions, which are seen as crucial for Pakistan’s economic stability.

Tuesday’s gains extended the bullish trend from the previous session. On Monday, the KSE-100 Index had jumped by 1,590 points, or 0.98%, closing at 163,847.69. The two-day surge reflects strong investor appetite, despite persistent concerns over inflation and the country’s external financing requirements.

On the global front, Asian markets opened higher, with MSCI’s Asia-Pacific index outside Japan rising 0.5%, marking its best monthly performance in a year. However, Japan’s Nikkei index declined for the third consecutive session, falling 0.3%. Meanwhile, political uncertainty in the United States raised concerns of a potential government shutdown, which could impact the release of key economic data.