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PSX Hits Historic High as Market Surpasses 156,000 Points


PSX Hits Historic High as Market Surpasses 156,000 Points

The Pakistan Stock Exchange (PSX) kicked off the week on a bullish note, with the benchmark KSE-100 index surging to an all-time high of 156,199 points.

Investor optimism fueled a remarkable intraday rally, with the index climbing as much as 1,922 points before closing at 156,087 points, marking a gain of 1,810 points (+1.17%).

The rally was driven by better-than-expected corporate earnings and strong liquidity from local institutions, which propelled the market into uncharted territory, according to Topline Securities.

Investor confidence remained robust, with heavyweight stocks leading the charge. Key contributors to the rally included ENGROH, HUBC, LUCK, MARI, and SNGP, which collectively added 1,144 points to the index's upward momentum.

The highlight of the day was ENGROH, which soared after a research report by Topline Securities titled "Earnings Revised Up; Buy Stance Maintained" sparked renewed investor interest. ENGROH alone contributed a massive 405 points to the index.

Market participation was equally impressive, with total volume reaching 1.123 billion shares and the total traded value standing at PKR 62.2 billion. K-Electric Limited (KEL) led the volume chart, trading 93.7 million shares.

Earlier today, Prime Minister Shahbaz Sharif expressed satisfaction earlier today over the Pakistan Stock Exchange (PSX) surpassing the 156,000-point mark.

"The PSX reaching this historic milestone reflects the business community's and investors' confidence in the government's policies," the Prime Minister remarked.

He further emphasized Pakistan's recent success in signing agreements and memorandums of understanding (MoUs) worth billions of dollars with Chinese private companies, underscoring the country's growing economic potential.

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