The Pakistan Stock Exchange (PSX) reached a historic level on Tuesday. The benchmark KSE-100 Index crossed 165,000 points for the first time in history.
The index surged to an intraday high of 165,315 points, gaining 1,467 points during trading. Strong buying across multiple sectors fueled the rally.
Cement, energy, oil and gas, pharmaceuticals, and banking stocks were among the top gainers. Key companies such as ARL, HUBCO, OGDC, POL, PPL, SNGP, SSGC, MCB, MEBL, and UBL traded in the green. Their performance lifted overall investor confidence and strengthened market sentiment.
At 9:35am, the index was already up 903 points, standing around 164,752. Activity remained strong in automobiles, fertiliser, commercial banks, oil and gas exploration, refineries, and power generation.
The market surge came as Pakistan began important talks with the International Monetary Fund (IMF). Discussions covered the second review of the $7 billion Extended Fund Facility (EFF) and the first review of the Resilience and Sustainability Facility (RSF). Key topics included fiscal performance, governance reforms, capital market improvements, and transparency in development spending.
Analysts linked the positive trend at PSX to investor optimism over the IMF negotiations. They believe progress in these talks could ease concerns about external financing and reforms.
The bullish momentum followed Monday’s strong close, when the KSE-100 Index gained 1,590 points, or 0.98%, to settle at 163,848. Back-to-back gains highlighted strong investor appetite despite challenges such as inflation and external debt pressures.
Globally, Asian markets also moved higher. MSCI’s Asia-Pacific index outside Japan rose 0.5%, its best monthly performance in a year. Japan’s Nikkei, however, slipped 0.3% for the third session in a row. In the United States, political gridlock raised fears of a government shutdown, adding to global market uncertainty.
The record-breaking performance at PSX shows confidence among local investors. Analysts say the index could stay strong if reforms progress and economic stability improves.
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