The PSX rally extended its historic run on Friday as the benchmark KSE-100 Index surged past the 146,000 level for the first time ever, reflecting strong domestic investor confidence and supportive global cues. The index climbed to an intraday high of 146,337.85 points during early trading, gaining 690.72 points or 0.47 percent by 9:30am.
Market participants described the PSX rally as broad-based and fundamentally supported, with buying interest visible across multiple sectors from the opening bell. Analysts noted that the steady rise signals growing confidence in Pakistan’s economic outlook and corporate earnings trajectory.
Local Investors Drive Momentum
The latest PSX rally has been largely powered by aggressive participation from local mutual funds and institutional investors. Market watchers say sustained domestic inflows have reduced reliance on foreign capital, making the rally more resilient to short-term global volatility.
Expectations of macroeconomic stability, controlled inflation, and continuity in fiscal policy have further strengthened investor sentiment. Traders reported healthy volumes as investors positioned themselves ahead of upcoming corporate earnings announcements.
Energy and Auto Stocks Lead the Charge
Sectoral performance remained a key feature of the PSX rally, with automobile assemblers, oil and gas exploration companies, oil marketing firms, and refineries trading firmly in positive territory. Heavyweight stocks such as Attock Refinery Limited, National Refinery Limited, Pakistan State Oil, Sui Northern Gas Pipelines, Sui Southern Gas Company, Mari Petroleum, Oil and Gas Development Company, Pakistan Oilfields Limited, and Pakistan Petroleum Limited all contributed significantly to index gains.
Analysts attributed the strong showing in energy stocks to stable global oil prices, improved margins, and expectations of better profitability in upcoming quarters, reinforcing the strength of the PSX rally.
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Momentum Builds on Previous Record Close
Friday’s advance builds on Thursday’s record-setting session, when the KSE-100 Index closed at 145,647.14 points after gaining 558.64 points. Market experts say the consecutive highs indicate that the PSX rally is not driven by speculation alone but by improving fundamentals and earnings visibility.
Technical analysts also pointed out that the index has maintained strong support levels, encouraging fresh buying on minor dips.
Global Markets Add Tailwinds
Global optimism has provided additional support to the PSX rally. Japanese equities posted sharp gains, with the Nikkei 225 rising 2 percent and the Topix Index crossing the 3,000 mark for the first time in history. Strong corporate earnings and expectations of easing trade tensions helped lift investor sentiment.
In contrast, broader Asian markets remained mixed, with modest declines seen in Hong Kong and select regional indices. Despite this, Pakistan’s market outperformed regional peers, underlining the domestic strength of the PSX rally.
US Developments Shape Investor Mood
US equity futures pointed to moderate gains, signaling a potential third straight session of advances. Analysts cited growing expectations of a dovish policy tilt by the US Federal Reserve as a key driver of global risk appetite.
Political developments in Washington also drew attention, with discussions around future Federal Reserve leadership adding to market speculation. Investors believe any shift toward accommodative monetary policy could support emerging markets, indirectly benefiting the PSX rally.
Outlook Remains Constructive
Market analysts remain cautiously optimistic about the near-term outlook, noting that earnings growth, declining interest rates, and improved liquidity conditions continue to favor equities. While short-term profit-taking cannot be ruled out after sharp gains, most expect the PSX rally to remain intact as long as economic indicators stay supportive.
With confidence strengthening and participation widening, Pakistan’s equity market appears well-positioned to sustain its upward momentum, marking a defining phase in the ongoing PSX rally.
