The Pakistan Stock Exchange (PSX) extended its rally on Thursday, driven by strong corporate earnings and a stable economic outlook.
The benchmark KSE-100 Index jumped 726.29 points during early trading, reaching 145,814.78 by 10:50am. This reflects a 0.50% increase from the previous close and adds to the momentum of Wednesday’s record 2,051-point rise.
Investors showed strong interest following a mix of positive macroeconomic indicators and supportive policy reforms. The ongoing rally signals rising confidence in the PSX and Pakistan’s financial markets.
Energy Sector Leads PSX Gains
The main push came from energy-related stocks, especially oil and gas companies. Leading the charge were shares of Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Petroleum (MARI), OGDC, PSO, and Pakistan Petroleum Limited (PPL). All traded higher, reflecting strong demand in the energy sector.
These sectors are critical to Pakistan’s industrial activity, and their performance has become a key driver of the PSX’s current growth trend.
Government Hails Investor Optimism
Prime Minister Shehbaz Sharif welcomed the surge in the PSX, calling it proof of renewed investor trust. He attributed the positive sentiment to his government’s pro-business policies and recent economic reforms. The premier reiterated his commitment to supporting investment and economic growth.
Global Trends Support Local Market
The bullish trend at the PSX also mirrored gains across Asian markets. Japan’s Topix and Nikkei rose by 0.9%, while Taiwan’s index climbed 2.3%, reaching a 12-month high. Other regional indices, such as South Korea’s KOSPI and Hong Kong’s Hang Seng, also posted gains.
Global investor confidence was boosted by strong earnings, tech rallies on Wall Street, and hopes for a U.S. interest rate cut. Despite trade-related concerns involving U.S. tariffs, the broader market remained focused on positive economic signs.
The PSX’s continued upward movement reflects strong market fundamentals, investor optimism, and growing confidence in Pakistan’s economic future.
In other news read more about PSX Now Has 15 Billion-Dollar Companies, Up from Just 3 in 2023
