The Pakistan Stock Exchange (PSX) continued its bullish run on Thursday, with the KSE-100 Index surging over 700 points in early hours.
Positive investor sentiment was buoyed by robust corporate earnings and a stable economic outlook.
The PSX opened strong on Thursday as the benchmark KSE-100 Index climbed 726.29 points, reaching 145,814.78 at 10:50am — up 0.50% from the previous close. This marks another record in the ongoing stock market rally, building on the historic 2,051-point surge observed a day earlier.
Investors remained upbeat, responding positively to a blend of encouraging macroeconomic indicators, ongoing policy reforms, and impressive quarterly earnings.
key sectors in focus: energy and power lead the charge
Buying interest remained concentrated in heavyweights from the energy sector, including oil and gas exploration companies, oil marketing firms, power generation, and refineries. Stocks like Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Petroleum (MARI), OGDC, PSO, and Pakistan Petroleum Limited (PPL) all traded in the green.
These sectors, closely tied to Pakistan’s industrial growth and energy needs, have remained the backbone of the market’s current bullish run.
PM Shehbaz welcomes investor confidence
Prime Minister Shehbaz Sharif welcomed the record-breaking performance of the stock exchange, terming it a sign of renewed investor confidence in the government’s business-friendly policies. In a statement, the premier emphasized that his administration prioritizes investment support, and credited market reforms and economic recovery for the rally.
Global cues support local sentiment
The upward trend in Pakistan’s equity market mirrored positive movements in Asian markets. Japan’s Topix and Nikkei both rose by 0.9%, while Taiwan's index jumped 2.3% to hit a 12-month high. Other regional markets, including South Korea’s KOSPI, Hong Kong’s Hang Seng, and mainland Chinese blue chips, posted modest gains.
Global market sentiment was lifted by strong corporate earnings, tech-led rallies on Wall Street, and hopes of a U.S. interest rate cut. Additionally, optimism around a potential meeting between U.S. President Donald Trump and Russian President Vladimir Putin over Ukraine added to investor confidence in Europe.
Despite renewed tariff threats by Trump — including a proposed 25% duty on Indian purchases of Russian oil and a 100% tariff on semiconductors — global markets remained largely unaffected, focusing instead on broader economic indicators.
