KARACHI: The Pakistan Stock Exchange (PSX) extended its record-breaking run on Thursday as a bullish rally lifted the KSE-100 index past the 138,000-point mark, fuelled by aggressive institutional buying and optimism over upcoming corporate earnings.
According to Topline Securities, after pausing for two sessions, bullish sentiment returned strongly, pushing the benchmark index to an intraday high of 2,563 points. The index closed at an all-time high of 138,665.50, up 2,285.53 points or 1.68 per cent, with heavy institutional flows and value-hunting by local investors reigniting market momentum.
Fertiliser stocks led the charge, with Fauji Fertiliser Company (FFC) and Engro Fertiliser (EFERT) together contributing 563 points to the index. Other major gainers included United Bank Ltd, Systems Ltd, Engro Corporation, and Hub Power Company, which collectively added 763 points, indicating broad-based strength among blue-chip stocks.
The rally sets a positive tone ahead of the peak earnings season, with investors closely watching key financial results and macroeconomic signals to guide the next phase of the market’s direction.
Ahsan Mehanti of Arif Habib Corporation attributed the bullish close to strong gains across multiple sectors, supported by unconfirmed media reports of a potential visit by the US President on Sept 18, which investors believe could bolster Pakistan-US trade relations.
Additionally, expectations of a breakthrough in ongoing government-business community talks over budgetary issues, coupled with improving economic indicators, contributed to market optimism.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said fertiliser stocks were at the forefront of Thursday’s rally, driven by hopes of improved performance in the agribusiness sector.
He noted that overall sentiment remains positive, with strong momentum likely to continue if macroeconomic stability and corporate earnings remain supportive.
Market participation was strong, with total volume rising 10.48pc to 780 million shares, while the traded value jumped 24.20pc to Rs39.97bn. Pakistan International Bulk Terminal led the volumes chart, with 82.66 million shares changing hands.
Published in Dawn, July 18th, 2025
