PSX maintains record-breaking streak, crosses 130,000

Pakistan Stock Exchange (PSX) extended its remarkable ascent on Wednesday as the benchmark KSE-100 index smashed past the 130,000 milestone for the first time in history, gaining 2,145 points day-on-day.

The bourse saw robust buying by big investors while low returns on bonds pushed more market players to build their investment portfolios. The upbeat investor sentiment provided the rally a strong support, driving stock prices higher across key sectors such as banking and communications.

Subsequently, the KSE-100 index closed the day higher by 1.67% at an unprecedented 130,344.03.
KTrade Securities wrote in its market review that the banking sector continued to deliver strong performance, propelling the index to new record levels over the past two sessions.

Wednesday’s rally was primarily fuelled by robust gains in stocks of UBL, MCB Bank, Bank AL Habib, Meezan Bank, HBL and National Bank of Pakistan.

Arif Habib Limited Deputy Head of Trading Ali Najib commented that the PSX soared past the key psychological barrier of 130,000. This milestone reflects growing investor confidence amid improving economic fundamentals, reduced default risks, a stable rupee and increasing foreign inflows.

Positive sentiment was further driven by attractive valuations, expectations of robust corporate earnings in the upcoming results season and the government’s pro-market stance, making the PSX an increasingly attractive regional investment destination, he added.

Overall trading volumes slipped to 1.026 billion shares compared with Tuesday’s tally of 1.033 billion. The value of shares traded was Rs49.3 billion. Shares of 473 companies were traded. Of these, 256 stocks closed higher, 192 fell and 25 remained unchanged.