The Pakistan Stock Exchange (PSX) extended its record-breaking streak on Thursday, as the KSE-100 Index gained over 700 points during early trading hours.
At 10am, the benchmark index stood at 152,974.07, up 772.20 points or 0.51%, after hitting an intra-day peak of 153,117.26. The rally was fuelled by robust activity in cement, oil and gas, banking, and power generation sectors. Market heavyweights such as HBL, MCB, MEBL, NBP, ARL, POL, and PSO drove momentum with positive performance.
The strong opening followed Wednesday’s gains, when the index had climbed 1,226.39 points to close at 152,201.88. Analysts noted that investor confidence has been lifted by stability in economic indicators and optimism over policy measures aimed at sustaining growth.
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Regional market trends added further support. Asian equities moved higher after Federal Reserve Governor Christopher Waller and other officials signalled openness to interest rate cuts, easing fears about global liquidity constraints. Japan’s Nikkei 225 rose 1.2% while Australian shares gained 0.8%. However, Chinese markets struggled, with the Shanghai Composite dropping 1.6% amid concerns of regulatory tightening.
Meanwhile, bond markets remain a source of concern. Yields on long-dated debt in the US, Japan, and the UK remain elevated, reflecting fiscal worries in major economies. Still, investors in Pakistan appeared unfazed, focusing instead on strong corporate earnings and sectoral performance.