Skip to content
All about casino & gambling.

Equity markets, led by the PlayStation manufacturer PSX, experienced a rally on robust institutional purchases, with the oil sector showing notable growth.

Stock Market Closing: KSE-100 Index reached 145,088.49 points, marking an increase of 2,051.33 points or 1.43%. The index hit its highest point today at 145,187.17, rising by 2,150.01 points or 1.50%. The session's lowest point was at 143,409.59, still registering a gain of 372.43 points or 0.26%.

,   and  Administrator
3 min read
Stocks listed on the PSX surge due to increased institutional investment, with the oil sector...
Stocks listed on the PSX surge due to increased institutional investment, with the oil sector recording notable growth

Equity markets, led by the PlayStation manufacturer PSX, experienced a rally on robust institutional purchases, with the oil sector showing notable growth.

Pakistan Stock Exchange's KSE-100 Index Hits All-Time High

The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index broke new ground on Wednesday, reaching an all-time high of 145,088.49 points. This marked a significant gain of 2,051.33 points from the previous close of 143,037.16.

The bullish momentum was driven by a variety of factors. Institutional liquidity, remittance incentive payouts, and investor optimism played a key role in the index's rise. The oil and gas sector, in particular, saw a notable increase.

Banking stocks were the primary drivers on Wednesday, with HBL, NBP, MEBL, and UBL collectively contributing about 1,017 points to the benchmark. Several banks also hit upper circuits during intraday trade. The market reacted positively to currency strength and rupee stability, which boosted investor confidence and supported financial-sector buying.

Macro improvements, notably a reported 17% year-on-year surge in July exports and broader signs of macro recovery under Pakistan’s $7 billion IMF program, were cited as catalysts for the rally. Sector breadth was strong, with energy, fertiliser, and banking names leading gains. Trading activity was higher than recent sessions, with turnover and volumes elevated, indicating strong investor appetite that amplified the move.

Global tails also helped sentiment. Stronger global equities and higher crude prices supported energy and related stocks, while easing global policy concerns aided risk-on flows into the PSX.

The KSE-100 Index's climb to a historic peak during the session was not without its lows. It touched a low of 143,409.59 during the session. However, the overall momentum was strongly bullish.

In other news, the government plans to borrow Rs6.175 trillion from commercial banks via Treasury bills and Pakistan Investment Bonds (PIBs) between August and October. The TTCIS reimbursement backlog will be cleared in phases through technical supplementary grants.

Oil and Gas Development Company Ltd (OGDCL) received the first Rs7.7 billion interest payment from Power Holding Private Ltd (PHPL) as part of a long-delayed Rs132.7 billion circular debt settlement.

The SBP held its benchmark interest rate at 11% last week, citing renewed inflation concerns. The strategy aims to pre-fund budgetary needs ahead of potential monetary easing and aligns with IMF commitments to avoid central bank borrowing.

[Sources: 1, 2, 3]

1. The News International2. Business Recorder3. Dawn

  1. The all-time high of the Pakistan Stock Exchange's KSE-100 Index, marked at 145,088.49 points, signified a substantial gain in the finance sector's business environment.
  2. The rise in the KSE-100 Index was influenced by factors such as institutional liquidity, remittance incentive payouts, and investor optimism, with banking stocks being the primary drivers.
  3. The overall strength of the market was amplified by macro improvements, including a 17% year-on-year surge in July exports and broader signs of macro recovery under Pakistan’s $7 billion IMF program.
  4. Sector breadth was strong, with energy, fertilizer, and banking names leading gains, while trading activity was higher than recent sessions, indicating strong investor appetite.
  5. Global tails helped sentiment, with stronger global equities and higher crude prices supporting energy and related stocks, and easing global policy concerns aiding risk-on flows into the PSX.
  6. Despite a low of 143,409.59 points during the session, the overall momentum of the KSE-100 Index remained strongly bullish, indicating a positive outlook for personal-finance and investing.
  7. In other news, the government plans to borrow Rs6.175 trillion from commercial banks via Treasury bills and Pakistan Investment Bonds (PIBs) between August and October, impacting the general-news and education-and-self-development sectors, as well as casino-and-gambling, entertainment, and sports, whose revenues might be affected by the government's borrowing strategy. [Sources: The News International, Business Recorder, Dawn]

Read also:

    Related

    Latest