Bulls are making a strong return to the trading floor of the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 index crossing the historic mark of 97,000 during intraday trade on Thursday.
The PSX ended higher on Tuesday, with the benchmark index rising 1,781.94 points to close at 97,328.39, recording a 1.86% increase.
The market witnessed significant activity, reaching an intraday high of 97,437.15 and a low of 95,300.21. Trading volumes remained strong, with 323.53 million shares traded during the session, while the total market value reached 22.27 billion rupees.
The buying spree was attributed to easing investors’ concerns about the political protest planned for November 24.
Buying activity was observed in sectors such as commercial banks, fertilizers, pharmaceuticals, automobile assemblers and refineries. Stocks like NRL, HASCOL, PSO, EFERT, HBL and NBP showed positive trading trends.
At 01:51 p.m., the market was hovering around 97,207.06 points, rising by about 1,660.61 points, or 1.74%, from the previous close of 95,546.45 points.
On Wednesday, the PSX ended the volatile trading session on a negative note, with the key KSE-100 index falling 310.21 points, or 0.32%, to settle at 95,546.45.
The PSX has been on a multi-week winning streak mainly supported by increasing investor confidence and improving economic indicators. Last week, the stock market rose 1.6%, closing at a record high of 94,763 points.
According to a recent report issued by BloombergPakistani stocks are expected to advance by more than a quarter by the end of next year 2025 as the country’s economy shows improvement under a loan program with the International Monetary Fund and a stable currency.
The benchmark KSE-100 index is expected to rise to 127,000 points by December 2025, or a 34% increase, from the 94,704 it closed last Friday, according to Topline Securities Ltd. In a report announced on November 16, Arif Habib Ltd. The index aims to reach 120,000 points, with gains of 27%.
“The stage is set for a potential market rerating with lower interest rates, a stable rupee, and improving macroeconomic indicators,” Arif Habib, a Karachi-based brokerage firm, commented in a report.
