The Pakistan Stock Exchange (PSX) witnessed strong bullish momentum on Monday, with the benchmark KSE-100 Index breaching the historic 135,000 mark for the first time. As of 11:35 AM, the index was trading at 135,561.59 points, posting a gain of 1,261.83 points or 0.94%.
The rally was fueled by sustained buying in major sectors including:
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Automobile Assemblers
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Cement
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Commercial Banks
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Oil & Gas Exploration Companies (E&Ps)
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Oil Marketing Companies (OMCs)
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Refineries
Heavyweight stocks such as MARI, OGDC, PPL, POL, PSO, SNGPL, SSGC, MEBL, NBP, and UBL all traded in the green, lifting overall market sentiment.
Prime Minister Shehbaz Sharif hailed the development, attributing the surge to investor confidence in Pakistan’s economy. In a statement issued by the Prime Minister’s Office (PMO), he said the bullish PSX reflects the success of government policies and economic reforms.
Analysts also pointed to record remittances in the last fiscal year and the start of the corporate result season as key drivers behind the recent market rally. “Result season has also kicked off, so that too needs to be closely monitored,” said Sana Tawfik, Head of Research at Arif Habib Limited (AHL).
The PSX’s gains on Monday build upon last week’s strong performance, where the KSE-100 Index gained 2,351 points (1.8%) week-on-week, closing at 134,299.77, then an all-time high.
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This current bull run highlights:
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Improved macroeconomic indicators
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Stable currency movement
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Foreign portfolio inflows
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Robust institutional participation
Global Backdrop:
While PSX continues to rally, global equity markets remained cautious. Wall Street and European futures dragged Asian indices lower amid escalating U.S. tariff threats. President Donald Trump reiterated his plan to impose 30% tariffs on EU and Mexican imports starting August 1.
Despite the tensions, markets showed relative calm. Asian markets were largely flat, while Chinese blue chips rose 0.3% after data showed annual export growth beat expectations in June.