The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Thursday, with the KSE-100 index breaching the 122,000-point mark during intraday trading — a historic milestone for the market.The benchmark index opened at 121,886.21, climbed to a record intraday high of 122,281.58, and eventually closed back at 121,886.21, effectively erasing its earlier gains. The day’s low was recorded at 121,517.90.Trading activity remained robust, with over 82.7 million shares changing hands, representing a transaction value exceeding Rs4.6 billion. The market had closed at 121,798.86 in the previous session, itself a historic high as it was the first time the PSX ended above 121,000 points.Key Drivers Behind the RallyThe rally at the PSX was largely driven by renewed investor confidence, sparked by the Asian Development Bank’s (ADB) approval of an $800 million support package for Pakistan. The financial assistance falls under the Resource Mobilization Reform Program (Subprogram-II) and includes:A $300 million policy-based loanA $500 million program-based guaranteeAlthough the loan package was delayed for five days due to India’s request for a review, it eventually received the green light, reassuring markets and stimulating positive sentiment.Market Sentiment and OutlookAnalysts suggest that anticipation of favorable budgetary measures for key sectors—such as oil refineries, real estate, and agriculture—combined with a strengthening Pakistani rupee, further fueled investor optimism.The PSX’s continued upward trajectory reflects a broader sense of economic stabilization and a return of foreign and institutional interest, following months of macroeconomic volatility.Despite the index pulling back slightly by session-end, crossing the 122,000 threshold marks a significant psychological and technical milestone, reinforcing the PSX’s current bullish trajectory.
