KARACHI: The Pakistan Stock Exchange (PSX) welcomed budget proposals on Wednesday, which maintained the capital gains tax unchanged. The benchmark KSE-100 index surged by 2,328 points to an all-time high amid investor optimism.
The KSE-100 surged by 2,328.24 points, or 1.91 per cent, to 124,352.68 points, up from 122,024.44 points recorded in the last session. The highest index of the day remained at 124,588.17 points, while the lowest level was recorded at 123,237.99 points.
Analyst Ahsan Mehanti at Arif Habib Corp said, “Stocks reached a new all-time high led by scrips across the board as investors cheer the status quo on equity taxes and higher withholding taxes on banking deposits in the federal budget FY26.”
He said that IMF-driven FY26 projections for a thin fiscal deficit -- at 3.9 per cent of GDP; low current account deficit; GDP growth at 4.2 per cent; and proposed higher federal PSDP at Rs1 trillion in the Federal Budget FY26 played a catalytic role in the bullish close at the PSX.
The KSE-30 index increased by 729.24 points or 1.98 per cent to 37,631.84 points from 36,902.59 points.
Traded shares surged by 449 million shares to 1,041.129 million shares from 592.952 million shares. The trading value decreased to Rs46.707 billion from Rs21.827 billion. Market capital expanded to Rs14.994 trillion against Rs14.768 trillion. Of the 478 companies active in the session, 283 closed in green, 157 in red and 38 remained unchanged.
According to Topline Securities, the bulls took firm control of the trading floor as the highly anticipated federal budget announcement sparked a wave of investor optimism, propelling the benchmark index into record-breaking territory. Widely applauded by market participants, the budget set a reassuring tone on fiscal direction and policy clarity, bolstering investor sentiment across the board.
The index shattered the psychological barrier of 124,000, marking a stunning intraday rally of 2,563 points, before closing at a historic high of 124,352, up 2,328 points or 1.91 per cent. The robust move reflects increasing confidence in the government's economic roadmap and signals strong momentum heading into the coming sessions.
Top contributors to the index’s rise included LUCK, FFC, PPL, ENGROH, and MARI, which collectively added a remarkable +953 points.
On the trading front, PPL (Rs2.51 billion), LUCK (Rs1.94 billion), MLCF (Rs1.94 billion), DGKC (Rs1.92 billion), and OGDC (Rs1.88 billion) led the charts in terms of traded value, reflecting heightened interest in key blue-chip and mid-tier names.
The highest increase was recorded in Rafhan Maize Products Company Limited, which rose by Rs117.58 to Rs9,830.52 per share, followed by Hoechst Pakistan Limited, which increased by Rs96.07 to Rs3,307.07 per share. A significant decline was noted in PIA Holding Company Limited B, which fell by Rs2,591.10 to Rs23,319.88 per share; Khyber Textile Mills Limited followed it, which closed lower by Rs246.16 to Rs2,215.49 per share.
Pervez Ahmed Co remained the volume leader with 78.292 million shares, which closed higher by 49 paisas to Rs2 per share. WorldCall Telecom, with 55.14 million shares, followed it, which closed higher by 3 paisas to Rs1.45 per share.
Other significant turnover stocks included Sui South Gas, PIA Holding Company Fauji Foods Ltd, K-Electric Ltd, Fauji Cement, Dewan Cement, Invest Bank and Aisha Steel Mill. In the futures market, 314 companies recorded trading, 234 of which increased, 77 decreased and 3 remained unchanged.