The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Tuesday, with the benchmark KSE-100 index closing above 137,000 for the first time in history. This surpasses Monday’s record high of 136,502.54, representing a significant milestone in the PSX’s history.
The index closed at 137,625, a gain of 1122.1 points or 0.82%. This surge follows a strong Monday, where the index jumped 2,203 points (1.64%).
The widespread buying was observed across key sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries. Several index-heavy stocks such as ARL, HUBCO, MARI, PPL, POL, PSO, MCB, MEBL, NBP, and UBL saw significant gains.
The rally is attributed to strong institutional participation and growing investor confidence. While the article doesn’t explicitly state the reasons behind this increased confidence, the global market context provides some clues. Asian shares climbed, and the dollar held gains amidst ongoing trade talks.
However, oil prices edged lower following President Trump’s 50-day deadline for Russia to end the war in Ukraine. Despite global uncertainties surrounding tariffs and trade, the market reaction has been relatively positive, suggesting a strong domestic driver for the PSX’s performance.
