Pakistan Stock Exchange Surges Past 120,000 Amid Investor Optimism
Karachi — The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday as the benchmark KSE-100 index climbed past the 120,000 mark, gaining nearly 480 points in early trading.
At 9:35am, the index stood at 120,410.08, up 478.63 points (0.4%), fueled by broad-based gains in sectors like automobile assemblers, commercial banks, oil and gas exploration, power generation, and technology. Leading blue-chip stocks such as HUBCO, MARI, POL, PSO, MCB, MEBL, and NBP traded positively, bolstering market sentiment.
The rally follows a strong recovery on Wednesday, when the KSE-100 index rose by 960 points (0.81%) to close at 119,931.5, driven by revived investor confidence and speculative buying amid anticipation of pro-growth measures in the upcoming federal budget.
Analysts predict the bullish trend may continue, potentially pushing the index toward the 120,440-120,796 range, with further gains possible up to 121,835-122,780 if momentum sustains.
Globally, market sentiment remained cautious amid rising US Treasury yields hitting an 18-month high, concerns over Washington’s fiscal position, and investor unease surrounding President Trump’s pending tax legislation. Regional Asian markets also showed declines, with Japan’s Nikkei, China’s main index, and Hong Kong’s Hang Seng all slipping during early trading.
