Stock market gains 2,572 points on fresh fund inflows, economic confidence, and fiscal optimism
The Pakistan Stock Exchange (PSX) soared to a new all-time high on Tuesday, with the benchmark KSE-100 index surpassing the 128,000 mark for the first time in history. The rally was fueled by renewed investor confidence, underpinned by fresh fund inflows, political and economic stability, and positive sentiment surrounding fiscal reforms outlined in the federal budget.
At the close of trading, the KSE-100 climbed 2,572.11 points, or 2.05%, to settle at 128,199.43.
In its post-market commentary, brokerage Arif Habib Limited (AHL) noted the index’s sustained momentum, crediting gains in major stocks like Fauji Fertiliser Company (+5.04%), UBL (+5.03%), and MCB Bank (+8.91%) for driving the surge. A total of 60 stocks gained, while 39 declined.
Among the notable losers were Lucky Cement (-1.54%), DG Khan Cement (-2.48%), and Tariq Glass Industries (-4.36%).
AHL also highlighted that June’s Consumer Price Index (CPI) rose 3.2%, slightly lower than May’s 3.46% increase—despite a sharp Rs13.75 per litre hike in fuel prices last month, the largest jump in 11 months following the Israel-Iran conflict.
“The index now finds support at 126,500, with a broader target of 130,000 in view,” AHL stated.
Total market volume dipped slightly to 1.03 billion shares, down from 1.1 billion on Monday. The total value of shares traded stood at Rs44 billion. Out of 479 listed companies, 233 advanced, 206 declined, and 40 remained unchanged.
