PSX hits new all-time high above 168k mark

KARACHI: The Pakistan Stock Exchange (PSX) witnessed yet another remarkable session on Thursday, with the benchmark KSE-100 index climbing to levels never seen before in its history. Investors started the day on a high, and the momentum only grew stronger as the session progressed, pushing the market into uncharted territory.

A strong start to the day

The trading day opened on a positive note, with the KSE-100 index quickly gaining ground in the early minutes. By 9:43 AM, the benchmark was up by 830.11 points, reaching 166,470.44 as volumes crossed 67 million shares. This early momentum suggested that the bullish sentiment from previous sessions had carried forward, driven by strong investor confidence and robust buying activity across key sectors.

However, the session was not entirely without turbulence. Between 10:27 AM and 10:33 AM, the index briefly dipped into negative territory. Around 10:30 AM, the KSE-100 fell to 165,567.22 points, marking a decline of 73.11 points at a time when trading volumes had swelled to nearly 243 million shares. Despite this brief red patch, the market quickly regained strength and returned to its upward trajectory.

Historic breakthrough in afternoon trade

By midday, the bullish wave had fully taken over. The benchmark kept surging and touched a new high at 2:55 PM, when the index jumped 2,619.99 points to hit 168,260.32 with volumes nearing 689 million shares. Just four minutes later, another record was set when the PSX climbed to 168,432.83, marking a gain of 2,792.50 points and registering a 1.69 percent rise from the previous close.

The crossing of the 168,000 level was a historic moment, as it marked the highest level the PSX has ever seen. Investors, traders, and market watchers hailed this as a clear sign of renewed confidence in Pakistan’s equity market, with volumes and participation reflecting the strength of the rally.

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One-year and year-to-date gains highlight strength

The latest surge adds to what has been an extraordinary run for the stock market. In one-year terms, the PSX is now up by a massive 105.49 percent, making it one of the world’s best-performing equity markets over this period. On a year-to-date basis, the KSE-100 index has also shown impressive growth, rising by 46.30 percent.

The day’s trading range also highlighted the extent of volatility and opportunity. By 3:00 PM, the KSE-100 had fluctuated between a low of 165,567.22 and the record high of 168,432.83, underscoring a wide intraday swing. Looking at the broader picture, the market has rallied significantly from its 52-week low of 81,529.45, more than doubling to reach its current peak.

Top gainers and losers drive market action

Much of today’s rally was driven by strong performances in select stocks. Among the top gainers were companies like First Elite Modaraba (FEM), Pakistan International Bulk Terminal (PIBTL), Hascol Petroleum, and Allied Bank Limited (ABL), all of which rose by around 10 percent.

Banking sector heavyweights also played a pivotal role in supporting the rally, with MCB Investment, Bank of Punjab (BOP), and MCB Bank Limited all contributing substantial points to the index.

On the other hand, a handful of stocks witnessed selling pressure despite the broader bullish trend. Gem BlueX, Arpak International, and Nishat Sarmaya all fell by over 9 percent, making them the top decliners of the session. Other losers included Arif Habib Modaraba and Zahidjee Textile, which slipped between 6 and 9 percent.

Sectoral trends and investor sentiment

The banking sector was particularly influential in today’s performance, with major names such as Meezan Bank, Habib Bank Limited, United Bank Limited, and Allied Bank registering strong gains. Fertiliser and oil exploration companies also supported the index, while some power and cement stocks showed mild weakness.

The overall tone of the market reflected optimism, with traders responding positively to both corporate performance indicators and broader expectations of economic stability. The surging volumes also pointed towards significant retail and institutional participation, reinforcing confidence that this rally is being driven by a wide base of investors rather than just a few key players.

Thursday’s session will go down as a milestone in the PSX’s history, with the crossing of 168,000 points becoming the new benchmark for Pakistan’s equity markets. While some analysts have cautioned about volatility after such steep gains, many believe that the underlying momentum is strong enough to sustain further upward moves in the near term.

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