A day after a flattish session, bulls returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,770 points to close at a fresh all-time high on Thursday.
Buying momentum was observed throughout the trading session, pushing the KSE-100 to an intra-day high of 158,082.55.
At close, the benchmark index settled at 157,953.46, an increase of 1,775.65 points or 1.14%.
Analysts attributed the buying rally to several factors.
“The signing of a defence pact between Pakistan and Saudi Arabia drove the momentum in the market,” Sana Tawfik, Head of Research at Arif Habib Limited, told media.
Moreover, the market is also expecting a development in the refinery sector, she added.
Meanwhile, brokerage house Topline Securities in its post-market report said blue-chip strength further underpinned the rally, with ENGROH, NBP, MARI, UBL, and BOP collectively adding 733 points to the index.
Saudi Arabia and Pakistan signed “the Strategic Mutual Defence Agreement (SMDA)” on Thursday during Prime Minister Muhammad Shehbaz Sharif’s visit to Riyadh. The agreement clearly states, “Any aggression against either country shall be considered an aggression against both“.
In another development, Pakistan’s current account posted a deficit of $245 million in August 2025, data released by the State Bank of Pakistan (SBP) showed on Thursday.
“Despite rising import pressure, the current account remains contained,” said Tawfik.
On Wednesday, PSX witnessed an active yet cautious trading session marked by heavy investor participation but little movement in market direction. The KSE-100 closed almost flat, shedding just 3.12 points to settle at 156,177.82 points.
Globally, stock markets were choppy on Thursday after the Federal Reserve delivered its first rate cut this year but signalled a measured approach to further monetary policy easing, leaving investors in doubt about the pace of future moves.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1% as declines in Australian and New Zealand markets weighed on the wider benchmark, while Chinese stocks veered between gains and losses.
There were signs of strength in some markets, however, as US equity futures advanced 0.4% after an uneven session on Wall Street overnight, while shares in South Korea jumped 0.8% and those in Taiwan rallied 0.4%. Japan’s Nikkei 225 tacked on 1%.
Global stocks stumbled on Wednesday after hitting a record high in the wake of the Fed’s quarter-point rate cut and indications it would steadily lower borrowing costs for the rest of this year.
However, in post-meeting comments, Fed Chair Jerome Powell tempered the more aggressive easing expectations in markets, saying Wednesday’s move was a risk-management cut and the central bank did not need to move quickly on rates.
The Pakistani rupee maintained its positive momentum against the US dollar, appreciating 0.01% in the inter-bank market on Thursday. At close, the rupee settled at 281.47, a gain of Re0.03 against the greenback.
Volume on the all-share index increased to 1,959 million from 1,499 million recorded in the previous close. The value of shares rose to Rs56.93 billion from Rs48.85 billion in the previous session.
Cnergyico PK was the volume leader with 213.09 million shares, followed by WorldCall Telecom with 141.83 million shares, and Fauji Foods Ltd with 101.81 million shares.
Shares of 485 companies were traded on Thursday, of which 332 registered an increase, 124 recorded a fall, while 29 remained unchanged.
A day after a flattish session, bulls returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,770 points to close at a fresh all-time high on Thursday.
Buying momentum was observed throughout the trading session, pushing the KSE-100 to an intra-day high of 158,082.55.
At close, the benchmark index settled at 157,953.46, an increase of 1,775.65 points or 1.14%.
Analysts attributed the buying rally to several factors.
“The signing of a defence pact between Pakistan and Saudi Arabia drove the momentum in the market,” Sana Tawfik, Head of Research at Arif Habib Limited, told media.
Moreover, the market is also expecting a development in the refinery sector, she added.
Meanwhile, brokerage house Topline Securities in its post-market report said blue-chip strength further underpinned the rally, with ENGROH, NBP, MARI, UBL, and BOP collectively adding 733 points to the index.
Saudi Arabia and Pakistan signed “the Strategic Mutual Defence Agreement (SMDA)” on Thursday during Prime Minister Muhammad Shehbaz Sharif’s visit to Riyadh. The agreement clearly states, “Any aggression against either country shall be considered an aggression against both“.
In another development, Pakistan’s current account posted a deficit of $245 million in August 2025, data released by the State Bank of Pakistan (SBP) showed on Thursday.
“Despite rising import pressure, the current account remains contained,” said Tawfik.
On Wednesday, PSX witnessed an active yet cautious trading session marked by heavy investor participation but little movement in market direction. The KSE-100 closed almost flat, shedding just 3.12 points to settle at 156,177.82 points.
Globally, stock markets were choppy on Thursday after the Federal Reserve delivered its first rate cut this year but signalled a measured approach to further monetary policy easing, leaving investors in doubt about the pace of future moves.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1% as declines in Australian and New Zealand markets weighed on the wider benchmark, while Chinese stocks veered between gains and losses.
There were signs of strength in some markets, however, as US equity futures advanced 0.4% after an uneven session on Wall Street overnight, while shares in South Korea jumped 0.8% and those in Taiwan rallied 0.4%. Japan’s Nikkei 225 tacked on 1%.
Global stocks stumbled on Wednesday after hitting a record high in the wake of the Fed’s quarter-point rate cut and indications it would steadily lower borrowing costs for the rest of this year.
However, in post-meeting comments, Fed Chair Jerome Powell tempered the more aggressive easing expectations in markets, saying Wednesday’s move was a risk-management cut and the central bank did not need to move quickly on rates.
The Pakistani rupee maintained its positive momentum against the US dollar, appreciating 0.01% in the inter-bank market on Thursday. At close, the rupee settled at 281.47, a gain of Re0.03 against the greenback.
Volume on the all-share index increased to 1,959 million from 1,499 million recorded in the previous close. The value of shares rose to Rs56.93 billion from Rs48.85 billion in the previous session.
Cnergyico PK was the volume leader with 213.09 million shares, followed by WorldCall Telecom with 141.83 million shares, and Fauji Foods Ltd with 101.81 million shares.
Shares of 485 companies were traded on Thursday, of which 332 registered an increase, 124 recorded a fall, while 29 remained unchanged.
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