PSX Hits Historic High as Bullish Rally Strengthens
The Pakistan Stock Exchange recorded a historic milestone on Friday, with the KSE-100 Index crossing 160,000 points during early trade amid strong buying activity.
At 10:15am, the benchmark index climbed to 161,188.80 points, reflecting a robust increase of 1,908.71 points or 1.2 percent in morning trade.
Investors showed across-the-board confidence in major sectors, including cement, commercial banks, oil and gas exploration, power generation, and refinery, pushing index-heavy stocks strongly into positive territory.
Key stocks, including ARL, HUBCO, MARI, OGDC, PPL, POL, SNGPL, and PSO, all witnessed gains, reinforcing the positive market momentum during early Friday activity.
The rally continued from Thursday when optimism over government action on circular debt propelled the KSE-100 Index to settle at 159,280.09 points, marking another record close.
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In parallel political developments, Prime Minister Shehbaz Sharif met US President Donald Trump at the White House on Thursday, accompanied by Army Chief Field Marshal Syed Asim Munir.
Discussions focused on the Middle East crisis, where the prime minister praised Trump for efforts to halt the war in Gaza and encourage dialogue.
Sharif welcomed the initiative by Trump to invite Muslim leaders to New York earlier this week for consultations on restoring peace in Gaza and the West Bank.
While Pakistan equities climbed, Asian markets faced pressure as pharmaceutical stocks tumbled following Washington’s decision to impose sweeping new tariffs on imported goods.
Trump announced 100 percent duties on imported branded drugs, alongside tariffs on trucks, cabinets, vanities, and upholstered furniture, set to take effect from October 1.
The measures rattled regional markets, with Japan’s Topix pharmaceutical index falling one percent, while the Hong Kong innovative drug index recorded a steep 2.8 percent decline.
