The Pakistan Stock Exchange (PSX) maintained its historic bull run on Wednesday, with the benchmark KSE-100 Index climbing to a new all-time high of 152,575 points. This surge was driven by robust buying activity across key sectors and a significant improvement in investor confidence. This marks the third consecutive day of record-breaking gains, following Tuesday’s close at 150,975 points.
Sectors Lead the Surge
Significant buying interest was seen in the cement, commercial banks, fertilizer, oil and gas exploration, power generation, and refinery sectors. Key index stocks such as HUBCO, ARL, MARI, OGDC, PPL, POL, PSO, SNGPL, SSGC, and WAFI also traded in the green. A market expert stated that the rally is “driven by improving macroeconomic stability and strong corporate earnings.”
Global Market Backdrop
The rally at the PSX occurred amidst mixed signals in global markets. A global sell-off in long-dated bonds continued into Asia, while gold reached a new peak due to persistent concerns over government debt and slowing economic growth. Japan’s 30-year government bond yield hit an unprecedented 3.255 percent, and the Nikkei index fell 0.5 percent after fresh US manufacturing data showed a contraction. Australia’s ASX 200 also dipped by 0.9 percent following weaker-than-expected GDP figures.
Meanwhile, US President Donald Trump vowed to seek an expedited Supreme Court ruling on tariffs after an appeals court declared them illegal, though they will remain in effect until October 14. Despite these global uncertainties, the PSX’s continued rally highlights strong domestic investor optimism, with analysts expecting cyclical sectors to remain a focus in the near term.
