Bull-run dominated the business again at the Pakistan Stock Exchange (PSX) on Wednesday wich share prices soaring to record-breaking level, reported 24NewsHD TV channel.
At the close of business, the PSX’s benchmark KSE-100 Index surged by 1,347.99 points or 1.11 percent, touching the historic milestone of 121,798.86 points for the first time in the country’s financial history.
Of the total 475 companies traded so far, share prices of 264 companies were up and of 170 were down while 41 remained unchanged.
This unprecedented rise marks the highest level ever recorded on the PSX, signalling renewed market confidence and reflecting signs of economic stability.
Market experts attributed the bullish trend to a combination of factors, including optimistic expectations surrounding the upcoming federal budget, progress in negotiations with the International Monetary Fund (IMF), and the ongoing stability of the Pakistani rupee.
In recent weeks, trading volumes and investment momentum have steadily grown, with notable activity across key sectors such as banking, cement, energy, and telecommunications, indicating broad-based investor interest and confidence in the market’s future trajectory.
On Tuesday, the PSX had recorded significant gains of 1,573.07 points with the KSE-100 index rocketing to 120,450.87 points for the first time. A total of 578,163,611 shares worth Rs26.827 billion were traded during the day.
The bulls maintained their grip on the market after the Asian Development Bank (ADB) approved $800 million programme to strengthen fiscal sustainability and improve public financial management in Pakistan.
The Improved Resource Mobilization and Utilization Reform Program, Subprogram 2, includes a policy-based loan of $300 million, and ADB’s first ever policy-based guarantee of up to $500 million, which is expected to mobilize financing of up to $1 billion from commercial banks.
Reporter Kavish Memon