The bulls remained unstoppable at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index closing above 145,000 for the first time on Wednesday, setting a new record high. The index surged by 2,051.33 points, or 1.43%, to settle at 145,088.49, with an intra-day peak of 145,187.17 points.
Strong buying interest was observed in key sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and refineries. Index-heavy stocks such as ARL, OGDC, POL, SNGPL, SSGC, MCB, MEBL, and UBL were among those trading in the green.
Analysts attribute the ongoing rally to positive macroeconomic indicators, renewed investor confidence, and expectations of stronger corporate earnings. Samiullah Tariq, Head of Research at Pak-Kuwait Investment, noted that “expectations of better corporate results” are driving the current buying sentiment.
On Tuesday, the PSX had already extended its historic rally, with the KSE-100 Index climbing 985 points, or 0.69%, to close at 143,037.17, marking another record high for the exchange.
