KARACHI: The Pakistan Stock Exchange (PSX) extended its upward streak on Tuesday, as the KSE-100 Index crossed the 168,000-point threshold amid strong buying interest and renewed investor confidence.
By 10:20am, the benchmark index stood at 168,015.96 points, up 1,773.06 points (1.07%), driven by encouraging economic indicators and positive sentiment surrounding the country’s financial outlook.
The session opened on a strong note, quickly reclaiming the 167,000 mark before surging past 168,000 within the first hour — levels not witnessed in several months.
Broad-based buying was seen across key sectors including banking, energy, refineries, automobiles, and fertilizers, with heavyweight stocks such as Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Pakistan State Oil (PSO), MCB Bank, and National Bank of Pakistan (NBP) all trading firmly in the green.
Market analysts attributed the rally to a combination of improving macroeconomic fundamentals, a stronger rupee, and waning geopolitical tensions.
Fresh data from the State Bank of Pakistan (SBP) revealed a current account surplus of $110 million in September, a remarkable turnaround from a $52 million deficit a year earlier. The improvement was largely fueled by an 11% year-on-year jump in remittances**, which touched $3.18 billion.
Adding to the optimism, Pakistan’s IT exports hit a record $1 billion over the past three months, underscoring growing strength in the technology sector and boosting investor confidence.
The local market’s momentum also mirrored gains across global equities. Asian markets rallied on easing trade frictions between the U.S. and China, lifting investor risk appetite.
The MSCI Asia-Pacific Index (excluding Japan) rose 0.94%, reaching a 4.5-year high, while Shanghai Composite added 0.2% and Hong Kong’s Hang Seng gained 1%. In Japan, the Nikkei index climbed to record levels amid speculation that Sanae Takaichi could become the country’s first female prime minister, further buoying investor sentiment.
Meanwhile, in the US, President Donald Trump expressed optimism about reaching a “fair trade deal” with Chinese President Xi Jinping, calming fears of escalating tensions ove Taiwan. Australian shares also advanced after Canberra inked a rare earths supply agreement with Washington, sparking gains in critical minerals stocks.
The PSX had already shown strength at the start of the week, when the KSE-100 Index surged 2,436.69 points (1.49%) on Monday, closing at 166,242.90 points. Analysts said that rally was largely supported by the Pakistan-Afghanistan ceasefire agreement, which eased geopolitical concerns and encouraged fresh institutional buying.
With the benchmark index now comfortably above 168,000 points, investors are eyeing the next resistance levels, as optimism continues to drive one of the region’s best-performing markets.
