The Pakistan Stock Exchange (PSX) continued its record-breaking rally on Wednesday. The benchmark KSE-100 Index crossed the 151,800 mark for the first time in history. Strong buying across key sectors and improving investor sentiment drove the surge.
At 10:15am, the index was trading at 151,899 points. This reflected an increase of 923 points or 0.61 percent. The market gained nearly 900 points in the opening hours of trading.
This rise extended the bullish momentum for a third straight session. On Tuesday, the index had closed at 150,975 points, also a historic high.
Buying In Major Sectors
Investors showed strong interest in cement, commercial banks, fertiliser, oil and gas exploration, power generation, and refinery stocks. Index-heavy companies including HUBCO, ARL, MARI, OGDC, PPL, POL, PSO, SNGPL, SSGC, and WAFI all traded in positive territory.
Analysts said the rally was supported by signs of macroeconomic stability. Robust corporate earnings also encouraged investors to continue buying.
Global Market Trends
The positive momentum at PSX came despite mixed signals from international markets. Global bond prices remained under pressure, with long-dated bonds sliding further in Asia. Gold prices touched new highs as worries about global debt and slowing growth increased.
Japan’s 30-year government bond yield hit 3.255 percent, the highest on record. The Nikkei index fell 0.5 percent after new US manufacturing data showed contraction. In Australia, the ASX 200 index dropped 0.9 percent following weaker-than-expected GDP results.
Meanwhile, in the United States, President Donald Trump announced plans to seek a fast-track Supreme Court ruling on tariffs. This followed an appeals court decision declaring the tariffs illegal, though they will stay in effect until October 14.
Outlook
Despite global concerns, the PSX rally reflects strong domestic confidence. Analysts believe cyclical sectors, particularly cement, banking, and energy, will remain active in the coming days.
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