KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bullish momentum throughout the day. The benchmark KSE-100 index surged by 1,573 points to an all-time high on Tuesday, as the Asian Development Bank (ADB) approved $800 million loan for Pakistan. Besides, relief is expected in some sectors in the upcoming federal budget next week.
The KSE-100 surged by 1,573.07 points, or 1.32 per cent, to 120,450.87 points, up from 118,877.81 points recorded in the last session. The highest index of the day remained at 120,693.83 points, while the lowest level was recorded at 119,129.52 points.
“Stocks closed at an all-time high, driven by broad-based gains across the board,” said Ahsan Mehanti, analyst at Arif Habib Corp. “Investor sentiment was buoyed by the ADB’s approval of an $800 million financing package; the government’s FY26 growth target of 4.2 per cent; and the approval of a Rs880 billion public sector development programme ahead of next week’s federal budget announcements.”
He said that budgetary relief expected for oil refineries, real estate and the agriculture sector and rupee gains played a catalytic role in the bullish close at the PSX.
The KSE-30 index increased by 439.42 points or 1.22 per cent to 36,584.01 points from 36,144.59 points.
Traded shares rose by 81 million shares to 587.163 million shares from 497.94 million shares. The trading value increased to Rs26.827 billion from Rs23.45 billion. Market capital expanded to Rs14.593 trillion against Rs14.444 trillion. Of the 467 companies active in the session, 232 closed in green, 187 in red and 48 remained unchanged.
A market report of Topline Securities said that bulls maintained a firm grip on the market, propelling the KSE-100 index to a record close at 120,450, supported by renewed investor confidence and an improving macroeconomic outlook.
The index surged to an intraday high of 1,816 points, as the momentum picked up sharply after news broke that the ADB approved an $800 million loan under Pakistan’s public finance programme, a major vote of confidence in the country’s economic reform trajectory. Adding further fuel to the rally, the IMF gave its nod to Pakistan’s budget proposals, reinforcing hopes of continued fiscal discipline and policy continuity.
Driving the day’s rally were key index movers; FFC, HBL, EFERT, LUCK, and BAHL, which collectively added 691 points to the benchmark.
The highest increase was recorded in PIA Holding Company Limited B, which rose by Rs3,231.20 to Rs35,543.19 per share, followed by Khyber Textile Mills Limited, which increased by Rs306.98 to Rs3,376.76 per share. A significant decline was noted in Sapphire Fibres Limited, which fell by Rs57.89 to Rs1,055.19 per share; Rafhan Maize Products Company Limited followed it, which closed lower by Rs35.12 to Rs9,883.9 per share.
Mubashir Anis Naviwala, an analyst at JS Global, said the benchmark index surged throughout the day, reaching a historic all-time high. “With the index at its all-time high, a breakout could lead to fresh momentum and attract further institutional participation. We recommend investors capitalise on this and invest in fundamentally strong stocks in the fertilizer, cement, and banking sectors on any intraday pullbacks,” he advised.
K-Electric Ltd remained the volume leader with 144.646 million shares, which closed higher by 23 paisas to Rs5.32 per share. Faysal Bank, with 26.656 million shares, followed it, which closed higher by Rs4.89 to Rs53.77 per share.
Other significant turnover stocks included Invest Bank, Fauji Foods Ltd, Kohinoor Spinning, WorldCall Telecom, PTCL, Dewan Cement, Maple Leaf and Hub Power Co.
In the futures market, 314 companies recorded trading, 224 of which increased, 86 decreased and 4 remained unchanged.