The Pakistan Stock Exchange (PSX) continued its strong upward momentum on Thursday, with the KSE-100 Index crossing a record-breaking 119,421.81 points during intra-day trading. The market is showing steady positive movement, with the index up by 689.71 points, reaching 118,663.73, marking a 0.58% increase.
The highest point recorded during the day was 119,421.81, while the lowest was 118,525.00. Trading volumes have also surged, with 268 million shares traded at a total value of Rs20.2 billion. As the market remains open, final figures will be confirmed at closing time, but investor confidence appears to be growing.
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This surge follows Wednesday’s performance when the KSE-100 Index reached nearly 118,000 points, driven by local institutional buying and potential resolutions to the circular debt issue in the power sector. Investor optimism has also been bolstered by expectations of the IMF’s approval of the $7 billion Extended Fund Facility review, which includes a circular debt management plan.
Key sectors including cement, commercial banks, oil and gas, fertilisers, and power are seeing strong buying activity, contributing to the bullish trend. Major contributors to the rise include Hub Power, Mari Petroleum, and Pakistan Petroleum. However, companies like Fauji Fertiliser Co and Engro Fertilisers have seen slight declines.
Analysts remain optimistic, predicting continued growth as progress on the IMF review and energy sector reforms could further boost investor confidence.
