PSX Skyrockets as KSE-100 Climbs Over 1,400 Points

Fueled by positive earnings outlooks, a stable rupee, and robust activity from both local and foreign institutional investors, the Pakistan Stock Exchange (PSX) experienced a significant surge. During Wednesday’s trading session, the benchmark KSE-100 Index jumped by more than 1,400 points.

As of 1:05pm, the KSE-100 Index was recorded at 76,227.48, reflecting an increase of 1,456.74 points, or 0.97%.

Notable buying interest was evident across several key sectors, including automobile manufacturing, commercial banking, power generation, and oil refining. Major stocks such as PRL, ARL, HUBCO, MEBL, NBP, and BOP all demonstrated positive trading activity.

Moody’s Upgrades Ratings of Five Pakistani Banks

In a major development for Pakistan’s corporate landscape, Moody’s Ratings has raised the long-term deposit ratings for both local and foreign currencies of five prominent Pakistani banks. These include Allied Bank Limited (ABL), Habib Bank Ltd (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP), and United Bank Ltd (UBL), with their ratings improving from Caa2 to Caa1.

These rating adjustments follow Moody’s recent upgrade of the Government of Pakistan’s issuer and senior unsecured debt ratings to Caa1 from Caa2. This reflects Pakistan’s improved external financial position, bolstered by advancements in reform implementation under the IMF Extended Fund Facility (EFF) program.

On Tuesday, the PSX maintained its record-breaking streak, with the KSE-100 Index closing at a historic high of 74,770.75 points, marking an increase of 1,574 points or 1.06%.

Global Market Overview

Globally, share markets faced headwinds on Wednesday, triggered by a tech-driven sell-off on Wall Street. Simultaneously, the dollar strengthened ahead of a crucial meeting of central bankers later in the week.

Stock futures indicated a weaker opening in Europe, and the majority of Asian markets were in the red. Tech-heavy indexes in Taiwan and South Korea experienced significant losses, partly due to concerns regarding potential influence from the Trump administration on companies within the sector.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, declined by over 1%, while EUROSTOXX 50 futures decreased by 0.64%, and DAX futures fell by 0.63%. S&P 500 futures dropped by 0.27%, and Nasdaq futures were down by 0.44%, continuing the downward trend from the previous day’s cash session.

Japan’s Nikkei decreased by 1.7%, and Hong Kong’s Hang Seng Tech Index fell by 1.3%.

This information reflects an intra-day market update.