The Pakistan Stock Exchange (PSX) witnessed a strong buying momentum on Thursday, driven by index-heavy energy and banking stocks, propelling the benchmark KSE-100 Index to close above the 94,000 mark for the first time in history. The index settled at 94,191.89 points, marking an increase of 836.47 points or 0.9%.
Investors have started shifting to Pakistan equities as returns on fixed-income securities are falling, according to CEO of Topline Securities, Muhammad Sohail.
Market experts attribute this positive trend to favorable macroeconomic indicators, including lower interest rates and a controlled trade deficit, which are providing a boost to market sentiment.
In a significant development, the Finance Division briefed the International Monetary Fund (IMF) team, led by mission chief Nathan Porter, on matters related to debt, external financing, and the rollover of approximately $12.5 billion from friendly countries. These ongoing discussions with the IMF are also expected to influence market dynamics.
As many as 464 companies transacted their shares in the stock market, 261 of them recorded gains and 147 sustained losses, whereas the share price of 56 companies remained unchanged.
The buying activity was particularly strong in key sectors such as commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and power generation. Major stocks like MCB, MEBL, NBP, HUBCO, MARI, OGDC, PPL, and SSGC traded positively, contributing to the market’s upward trajectory.
