KARACHI – The Pakistan Stock Exchange (PSX) has once again made history, with the benchmark KSE-100 Index crossing the 149,000 mark during intra-day trading, reinforcing strong investor sentiment and growing confidence in Pakistan’s economic trajectory.
The index soared by 1,006.96 points to settle at 149,203.38, compared to the previous close of 148,196.42. During the session, the market tested a high of 149,367.31 and a low of 148,293.94, ultimately closing with a 0.68% gain. Trading volumes were robust, with over 105 million shares changing hands, valued at nearly Rs 10.77 billion, a clear indication of heightened participation from both institutional and retail investors.
Momentum Driven by Upgrades and Optimism
The PSX rally is not an isolated surge but part of a consistent upward trend witnessed throughout recent sessions. On Monday, the market had already posted an impressive 1,705-point gain, pushing the index beyond the 148,000 milestone. Analysts attribute this record-breaking run to a combination of international credit rating upgrades and domestic stability factors.
Global rating agencies have fueled investor enthusiasm: Fitch revised its outlook on Pakistan’s banking sector, citing improved resilience, while Moody’s upgraded Pakistan’s sovereign rating to Caa1, signaling better macroeconomic conditions. These developments, coupled with encouraging corporate earnings, a relatively stable rupee, and optimism over potential Pakistan-US trade incentives, have intensified buying interest.
What’s Powering the Rally?
- Banking and financial stocks are leading the surge, reflecting Fitch’s optimistic forecast.
- Foreign investor participation is showing signs of revival, bringing fresh liquidity into the market.
- Macro indicators, including easing inflationary pressures and stability in the currency, are adding further confidence.
- Speculation around government reforms and trade incentives continues to drive speculative as well as long-term interest.
Outlook: Can the Bull Run Continue?
Market experts believe that the PSX is riding on solid fundamentals, but sustaining the momentum will depend on external factors such as global oil prices, international investor inflows, and upcoming policy decisions. While short-term corrections are expected, the overall sentiment remains bullish as long as Pakistan maintains fiscal and monetary stability.
The index crossing 149,000 points is not just a statistical milestone but also a symbolic indicator of investor trust in Pakistan’s recovery story. With momentum on its side, the PSX could soon be eyeing the 150,000 landmark, setting yet another record in the country’s financial history.
This story has been reported by PakTribune. All rights reserved.