KARACHI: The Pakistan Stock Exchange (PSX) surged to a historic high on Thursday, fueled by optimism over a landmark Strategic Mutual Defence Agreement (SMDA) signed with Saudi Arabia.
The benchmark KSE-100 Index reached an intraday peak of 1,904 points and closed at 157,953, gaining 1,775 points (+1.14 per cent). This marked the index’s highest-ever close, with broad-based buying across multiple sectors.
Topline Securities reported that technology, refinery, banking, food, and investment bank stocks led the gains. Renewed interest in second- and third-tier stocks also helped lift overall market sentiment.
Al Habib Capital highlighted strong participation in banking and energy stocks, attractive valuations, a firm rupee, and optimism ahead of the upcoming IMF review. The firm also cited the State Bank of Pakistan’s report showing a USD245 million current account deficit for August 2025, compared to USD82 million a year earlier.
Blue-chip stocks were key contributors, with ENGROH, NBP, MARI, UBL, and BOP collectively adding 733 points to the index. Market activity remained robust, with 1.96 billion shares traded and a total value of PKR 56.9 billion. CNERGY led volumes with 213 million shares exchanged.
Meanwhile, gold prices in Pakistan remained steady on Thursday, offering a brief pause to local investors after weeks of strong rallying. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported the 24-karat gold per tola price held at Rs388,600, while the 10-gram price stayed flat at Rs333,161. Silver rose slightly by Rs31, reaching Rs4,418 per tola.
Analysts say this historic stock market surge reflects growing investor confidence amid geopolitical developments and improved economic indicators. Many see it as a historic moment for Pakistan’s capital markets, demonstrating resilience despite ongoing global and local challenges.
Investors remain cautious but hopeful that this positive momentum can sustain in the coming weeks, especially with supportive government measures and strong corporate performance.
In other news read more about: Bullish trend in Pakistan Stock Exchange
