The Pakistan Stock Exchange (PSX) extended its rally for the third straight day on Thursday, with the benchmark KSE-100 index reaching a record intra-day high of 126,025.99 points. The surge came as investor confidence remained strong following the announcement of the federal budget.
In early trading, the index jumped by 1,673 points or 1.35%, breaking all previous records. It touched a daily high of 126,055.32 and a low of 124,807.09, with a trading volume of over 113 million shares worth Rs11.37 billion.
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Market participants welcomed the FY26 budget, which kept equity taxation unchanged while increasing withholding tax on bank deposits. Analysts say these measures, along with projections of a 3.9% fiscal deficit and Rs1 trillion for development spending, boosted investor sentiment.
Key sectors such as cement, oil and gas, banking, and fertilisers led the gains, with stocks like Lucky Cement and Pakistan Petroleum seeing notable growth. Despite the strong local response, foreign investors offloaded shares worth Rs1.1 billion.
