Monitoring Desk
The Pakistan Stock Exchange (PSX) continued its bullish streak on Thursday, with the benchmark KSE-100 index hitting a record high of 120,617.78 points—up by 686.33 points in early trading—fueled by optimism surrounding the upcoming federal budget.
Investor confidence was reflected in across-the-board buying, particularly in key sectors such as automobile assemblers, commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and technology. Heavyweight stocks including HUBCO, MARI, POL, PSO, MCB, MEBL, and NBP contributed to the market’s upward momentum.
The rally built on Wednesday’s strong gains, when the index surged 960 points to close at 119,931.5, as investors showed renewed confidence in pro-industry measures expected in the forthcoming budget.
Market Recovers After Early-Week Dip
The market’s performance earlier in the week had been mixed. On Tuesday, the KSE-100 opened on a positive note but quickly reversed course, falling to 119,106 and closing at 118,971—down by 718 points—as investors adopted a wait-and-see approach ahead of fiscal announcements.
Monday, however, had seen a notable recovery, with the index climbing 600 points during early trade to reach 120,285, signaling the start of renewed bullish sentiment.
Ceasefire and Economic Stability Drive Optimism
The recent market momentum has been underpinned by easing geopolitical tensions following a ceasefire, along with encouraging economic signals. As the situation stabilized, investor confidence was further reinforced by expectations of a business-friendly budget and macroeconomic discipline.
Market watchers anticipate continued upward movement, provided the federal budget—scheduled for early June—meets expectations for industry incentives and fiscal clarity.
