The Pakistan Stock Exchange (PSX) made history on Thursday as the benchmark KSE-100 index surged past the significant 100,000-point mark, reflecting investor optimism and a positive start to the trading session.
At 09:42AM, the benchmark KSE-100 index climbed by 947.32 points, or 0.95%, reaching 100,216.57 points, up from its previous close of 99,269.25 points.
This milestone comes as a remarkable recovery for the market, which experienced a sharp drop of over 3,500 points on Tuesday, following violent protests in Islamabad that had unsettled investor confidence.
The trading volume for today has been strong, with over 154 million shares exchanged, and a total value of over Rs 4.5 billion.
The market’s positive momentum follows yesterday’s strong performance, which saw the index reclaim five key levels—95,000, 96,000, 97,000, 98,000, and 99,000 points—before closing at 99,269.25 points.
Investor confidence remains high, driven by factors such as easing political tensions, optimistic economic indicators, and strong sectoral performances.
As the PSX continues to show resilience and growth, it reflects the broader potential for Pakistan's economic development.
On Wednesday, 100-index skyrocketed nearly 4,700 points – the biggest single-day surge in the bourse's history.
A day ago, the market was jolted by massive sell-off, plunging over 3,500 points on the back of growing political unrest. The spectacular rebound, which took the KSE-100 index to record high above 99,200 points, could be attributed to investor sentiment, buoyed by the easing of political tensions following the end of Pakistan Tehreek-e-Insaf's (PTI) protest in Islamabad.
A strong performance by the banking sector boosted investor confidence, while other key sectors such as automobile, oil and gas, oil marketing companies (OMCs) and power generation also played a significant role in driving the rally.
"Stocks closed at a new all-time high, led by across-the-board interest in shares, after PTI ended its protest in the capital, easing political noise and security concerns," Arif Habib Corp MD Ahsan Mehanti wrote in his brief commentary.
Upbeat economic indicators, speculation about further decrease in inflation and rupee stability were the key catalysts that drove the bullish activity, he added.
At the end of trading, the benchmark KSE-100 index jumped 4,695.09 points, or 4.96%, to a historic high at 99,269.25.
Topline Securities wrote in its review that bulls staged a remarkable comeback as the KSE-100 index soared to the intra-day high of 4,975 points, recording the largest single-day gain in history. The impressive rally followed previous day's sharp downturn, with the index closing at 99,269, up 4,695 points.
The positive sentiment was largely driven by the opposition party's decision to end protest in the capital late last night, it said.