The Pakistan Stock Exchange (PSX) saw a strong rally on Thursday, with the KSE-100 Index crossing 153,000 points. The surge was driven by positive investor sentiment and active buying in major sectors.
At the opening, the KSE-100 Index jumped over 700 points, reaching 153,270 before stabilizing at 152,974 by mid-morning. During intraday trading, the index hit a high of 153,117, reflecting investors’ strong appetite for stocks.
Buying pressure was particularly visible in cement, commercial banks, oil and gas exploration, oil marketing companies, power generation, and refineries.
Top-performing stocks included Attock Refinery (ARL), Mari Petroleum (MARI), Pakistan Oilfields (POL), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Sui Gas Northern Pipelines (SGNPL), Habib Bank (HBL), MCB Bank, Meezan Bank (MEBL), and National Bank of Pakistan (NBP). These stocks contributed significantly to the PSX gains.
The rally followed Wednesday’s strong performance, when the KSE-100 Index gained 1,226 points, settling at 152,201. Analysts say this momentum reflects renewed confidence in the domestic market and potential foreign inflows.
International markets showed mixed trends. Asian stocks rebounded on Thursday, with Japan’s Nikkei rising 1.2% and Australian shares gaining 0.8%. However, China’s Shanghai Composite slipped 1.6%, slightly offsetting regional gains.
Comments from U.S. Federal Reserve officials signaling possible interest rate cuts further eased investor concerns and supported risk appetite in emerging markets, benefiting the PSX.
While the PSX remains in bullish territory, analysts caution that upcoming global economic data, especially U.S. labor reports, may affect market sentiment. Continued reforms and stable foreign inflows, however, could sustain the rally in the short term.
In other related news also read Investor Optimism Fuels Historic Surge in Pakistan Stock Market
