PSX hits record high as budget optimism boosts investor confidence

KARACHI – The Pakistan Stock Exchange (PSX) continued its bullish streak on Thursday morning, with the benchmark KSE-100 index climbing to a new high of 120,617.78 points. This marks an increase of 686.33 points, driven by strong investor sentiment and growing optimism about the upcoming federal budget.

Buying activity was observed across key sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation, and the technology sector. Major stocks such as HUBCO, MARI, POL, PSO, MCB, MEBL, and NBP traded in the green, helping to support the overall market momentum.

On Wednesday, the PSX closed at 119,931.5 points after gaining 960 points, showing strong recovery signs. Investors appeared confident, expecting pro-business measures and possible tax relief for industries in the forthcoming budget. This positive sentiment played a vital role in lifting market performance after earlier instability.

Earlier in the week, the market showed mixed trends. On Tuesday, the KSE-100 index started strong but slipped later in the day, closing at 118,971 after losing 718 points. The decline was largely due to cautious investor behavior amid uncertainty surrounding the budget announcement.

However, the market rebounded quickly. On Monday, the index surged by 600 points, reaching 120,285 during early trading hours. Investors reacted positively to easing geopolitical tensions and improving economic indicators, which helped restore confidence in the market.

Overall, the PSX’s recent performance reflects renewed optimism and investor interest as Pakistan approaches its federal budget. If positive expectations hold, the market may continue its upward trend in the coming days.