Pakistan Stock Exchange Soars to New Heights

Fueled by robust institutional buying, renewed appeal in premier stocks, and heightened investor confidence, the Pakistan Stock Exchange (PSX) has continued its record-breaking surge. The KSE-100 Index, a key market indicator, surpassed the 140,000 mark in the initial minutes of trading on Friday.

As of 9:35 am, the index was recorded at 140,386.37, reflecting an increase of 1,720.88 points, or 1.24%.

Notable buying activity was evident in critical sectors, including automobile manufacturers, commercial banking institutions, oil and gas exploration firms, and oil marketing companies (OMCs). Major stocks such as MARI, OGDC, PPL, POL, ARL, MCB, MEBL, and UBL were all trading positively.

Market analysts suggest this positive trend is likely to persist, driven by favorable economic signals.

Expert Opinion

Sana Tawfik, Head of Research at Arif Habib Limited, commented that the momentum is expected to be sustained as the result season approaches. However, she also noted the likelihood of profit-taking periods as the market undergoes consolidation.

On the previous day, Thursday, the PSX demonstrated its bullish strength, with the KSE-100 Index climbing 2,285 points, or 1.68%, to establish a new all-time closing peak of 138,665.50.

Global Market Overview

Asian markets mirrored Wall Street’s gains on Friday, propelled by strong US economic figures and impressive corporate profits that mitigated concerns over tariffs. The yen weakened, nearing its second consecutive week of losses as Japan’s upper house election approached.

The S&P 500 and Nasdaq closed at new record highs overnight, buoyed by US data, including retail sales and jobless claims, that exceeded forecasts, suggesting a modest economic upturn. This allows the Federal Reserve more time to assess the inflationary effects of increased US tariffs.

Netflix, the streaming giant, exceeded Wall Street’s high expectations for second-quarter earnings, partly due to a weaker US dollar. However, its share price declined by 1.8% in after-hours trading, with analysts suggesting that much of the growth had already been factored in.

MSCI’s broadest index of Asia-Pacific shares outside Japan increased by 0.8% on Friday, reaching its highest level since late 2021 and bringing the weekly gain to 1.7%.

Japan’s Nikkei, however, experienced a slight decrease of 0.2%, and the yen was valued at 148.54 per dollar, a decline of approximately 0.7% this week, following polls indicating that Prime Minister Shigeru Ishiba’s coalition risked losing its majority in Sunday’s election.

This information reflects an intra-day market update.