A historic rally at the Pakistan Stock Exchange (PSX) has resulted in the benchmark KSE-100 Index climbing more than 1,800 points to surpass the 156,000-mark.

 

According to the PSX website, the market opened on a bullish note and touched the highest level of 156,080.79 points at 10:20 am, an increase of 1,803 points from the previous close of 154,277.19 points. 

 

As of 11:20 am, the KSE-100 was hovering at 155,636.72 despite the devastation caused to the agriculture, livestock and housing sectors by flash floods in Punjab and Khyber Pakhtunkhwa (KP).

 

Reports said that confidence is being witnessed in sectors related to construction, recovery and energy as experts believe that investors are keen to invest in the cement sector due to post-flood reconstruction activities in some areas of central Punjab and KP.

 

Strong buying was seen in major sectors, including cement, commercial banks, oil and gas exploration, oil marketing companies and power generation, while index-heavy stocks such as HBL, MCB, MEBL, HUBCO, MARI, OGDC, PPL, POL, SSGC, SNGPL, DGKC and LUCK traded higher.

 

Last week, the KSE-100 Index rose 5,659 points, or 3.8%, closing at 154,277 — the fourth-highest weekly finish this year. Gains were supported by local investor demand, optimism over the prime minister’s China visit and positive macroeconomic signals, even as foreign investors remained net sellers.

 

According to AKD Securities, the stock market is expected to remain positive in the coming weeks, with the upcoming Monetary Policy Committee’s meeting and any developments over circular debt remaining in the limelight. 

 

The brokerage firm said that the KSE-100 is anticipated to sustain its upward trajectory, with a target of 165,215 points by December 2025, primarily driven by strong earnings in fertilizers, sustained ROEs in banks, and improving cash flows of E&Ps and OMCs, benefiting from falling interest rates and economic stability.