KSE-100 Surges Past 900 Points as Investors Ride Wave of Optimism
The Pakistan Stock Exchange (PSX) extended its winning streak on Tuesday, with the benchmark KSE-100 Index climbing sharply in early trade, adding more than 900 points by mid-morning.
By 11:00 am, the index stood at 147,845.28 — up 915.44 points, or 0.62%, from Monday’s close of 146,929.84. The rally built on yesterday’s strong performance, when the market jumped over 1,500 points in a single session.
Key Sectors Drive Gains
Buying activity was concentrated in heavyweight sectors, particularly automobile manufacturing, banking, and energy. Oil and gas explorers, as well as oil marketing companies, also saw robust demand. Notable gainers included MARI, POL, PSO, SSGC, SNGPL, HBL, MCB, MEBL, and UBL.
Analysts link the rally to a combination of solid corporate earnings and renewed foreign investment hopes. Finance Minister Muhammad Aurangzeb’s recent return from the US added to the positive mood after he revealed progress in talks with American counterparts, including potential investments in Pakistan’s mineral and mining sectors. He called the discussions a “success” and suggested tangible outcomes could be on the horizon.
Global Tailwinds Add to Momentum
The upbeat sentiment wasn’t confined to Karachi. Across Asia, most equity markets were in the green, helped by news that the US and China agreed to extend their tariff truce for another 90 days, avoiding fresh duties on Chinese exports.
Japan’s Nikkei set a new record high, rising 2% as traders returned from a holiday, while Australia’s main index also hit an all-time peak ahead of an expected interest rate cut. The broader MSCI Asia-Pacific index (excluding Japan) edged higher, though gains were muted by lackluster performances in China and Hong Kong, where the Hang Seng slipped 0.1% in early trading.
With both domestic and international forces working in its favor, the PSX appears to be entering a phase of heightened investor confidence — one that market participants hope will carry through in the coming weeks.
