PSX hits record high as KSE-100 surpasses 114,000 points

The Pakistan Stock Exchange (PSX) witnessed a historic day on Thursday as the benchmark KSE-100 Index soared past the 114,000 mark, closing at an all-time high.

The index gained 3,259.45 points, or 2.94%, to settle at 114,069.66 after hitting an intra-day peak of 114,408.62.

The bullish rally, which began in mid-2023, has been supported by slowing inflation and robust economic indicators. The KSE-100 Index has seen an extraordinary rise, climbing from 40,000 in June 2023 to over 114,000—a remarkable 180% return in just 18 months.

Key sectors such as automobiles, cement, commercial banks, and oil exploration companies witnessed strong buying interest. Major players like HUBCO, PPL, OGDC, HBL, and ENGRO closed in the green.

Experts credit the rally to a combination of improving global equities, easing geopolitical tensions, and optimistic economic projections. Mohammed Sohail, CEO of Topline Securities, highlighted the market’s resilience, calling this rise the best comeback in Pakistan’s stock market history.

Investors are also keenly watching the upcoming Monetary Policy Committee (MPC) meeting, where a major interest rate cut is widely anticipated.

Adding to the optimism, the Asian Development Bank (ADB) revised Pakistan’s GDP growth forecast for FY25 to 3%, while lowering the inflation projection to 10% from 15% in FY24.