PSX jumps nearly 1,400 points on sustained buying interest

Bullish momentum accelerates as $2billion Saudi inflow boosts sentiment, strengthens outlook for external stability

KARACHI:

The rally at the Pakistan Stock Exchange gathered fresh momentum on Thursday, with bulls driving the benchmark KSE-100 index sharply higher in early trade before gains moderated by the close.

Within minutes of the opening bell, the index surged by 2,306.29 points, or 1.27%, reaching an intra-day high of 170,899.16 as strong buying interest dominated the market. Investor sentiment remained upbeat, supported by improving macroeconomic signals and ample liquidity.

Driving the positive sentiment was a key development on the macro front. The State Bank of Pakistan (SBP) confirmed receipt of $2 billion from the Ministry of Finance of Saudi Arabia, with the value date of April 15, 2026. The inflow is expected to bolster foreign exchange reserves and ease near-term external financing pressures, factors that typically act as strong triggers for equity market rallies.

The combination of improved macro stability signals and sustained investor optimism kept the market firmly in green territory through the day. The index touched a low of 168,941.31, reflecting some volatility amid intra-day consolidation.

However, some profit-taking emerged later in the session, pulling the index off its peak. The market eventually settled at 169,911.95, still posting a solid gain of 1,392.01 points, or 0.83% for the day.

Overall, the trading pattern highlighted sustained bullish momentum, though the pullback from highs suggests investors opted to lock in gains. Despite this, the broader tone remains positive, with macro stability cues and continued participation likely to keep the market supported in the near term.

Read More: $3b Saudi support fuels robust PSX rally

Arif Habib Limited (AHL) wrote that it was upside continuation for the KSE-100 with another intra-day move into the 170ks. Some 66 shares rose while 32 fell with United Bank (+2.87%), Oil & Gas Development Company (+3.48%) and Hub Power (+2.2%) contributing the most to index gains.
In contrast, Bank Al Habib (-1.95%), Meezan Bank (-0.68%) and Bank Al Falah (-1.56%) were the biggest index drags.

Meanwhile, Pakistan has emerged as the facilitator of US-Iran peace negotiations, with Chief of Defence Forces and Chief of Army Staff, Field Marshal Asim Munir, as the favoured man between Washington and Tehran. The United States is discussing holding a second round of peace talks with Iran in Pakistan and is optimistic about reaching a deal.

Also, Pakistan's government is planning to hand over the control of its national carrier to the Arif Habib Group-led consortium by the end of this month. Turkey is preparing to host talks later this week about creating a regional security platform with Pakistan, Saudi Arabia and possibly Egypt.

Heading into the last session of the week, the KSE-100 is currently +1.6% week-on-week with support at 165k, AHL noted.

Overall trading volume decreased to 972.7million compared with Wednesday’s total of 1.20 billion. The value of shares traded stood at Rs43.9 billion. Shares of 489 companies were traded. Of these 307 rose, 139 fell, and 43 remained unchanged. Unity Foods emerged as volume leader with trading in 70.6million shares, gaining Rs0.95 to close at Rs9.36.