KARACHI: The Pakistan Stock Exchange (PSX) has achieved another historic milestone by briefly crossing the 150,000 points mark, reflecting robust investor confidence and positive market sentiment. Although the index could not sustain the level for long, it continues to trade near 149,978.23 points.
On Monday, the benchmark KSE-100 Index witnessed a remarkable surge, climbing 1,904 points intraday before closing at 148,196 — up 1,704 points or 1.16 per cent. This marked both an all-time record intraday and closing high, underscoring the bullish momentum in the market.
Market optimism has been fueled by the government’s circular debt reform plan, which includes measures such as cutting LNG cargoes, revising RLNG pricing, mobilising funds through LNG diversion savings, state-owned enterprise (SOE) dividends, and recovering power sector receivables. Analysts at Topline Securities noted that detailed proposals expected next week are likely to sustain the positive trend.
Adding to the upbeat mood, international credit rating agencies have shown confidence in Pakistan’s financial sector. Fitch Ratings issued a brighter outlook on Pakistani banks, while Moody’s upgraded Pakistan’s currency ratings to Caa1, further boosting investor confidence.
Ahsan Mehanti, CEO of Arif Habib Commodities, commented:
“Stocks closed at a record high as investors weighed Fitch’s brighter outlook on Pakistan’s banks and Moody’s currency ratings upgrade to Caa1.”
On Tuesday, the momentum continued as the index opened at 148,196.42 points and before 3 PM had already surged by nearly 1,800 points, keeping the market firmly in bullish territory.
