PSX crosses 186,000 points, maintains strength

KARACHI: The Pakistan Stock Exchange (PSX) surged to a new all-time high on Wednesday, with the benchmark KSE-100 Index crossing the historic 186,000-point level for the first time, reflecting strong investor confidence and sustained buying momentum.

The market witnessed a sharp rally on the third trading day of the week, as the KSE-100 Index gained 977 points to reach 186,768 points during intraday trading. The index had already closed at a record level of 185,062 points at the end of the previous session.

While some of these gains dissipated as trading continued, the market remained well above the opening stage of 185,062.10 points, hovering around 185,929.64 points with over 860 points gains by noon.

Market participants attributed the bullish trend to continued optimism over macroeconomic stability, improved liquidity conditions, and expectations of positive corporate earnings.

Meanwhile, the Pakistani rupee showed slight strength against the US dollar in the interbank market. According to the Exchange Companies Association of Pakistan (ECAP), the dollar exchange rate depreciated by 2 paisa, trading at Rs 280.05 compared to the previous close.

Analysts said the combination of a record-breaking equity market and a stable currency reflects improving sentiment across financial markets, though they cautioned that global developments and upcoming policy decisions could influence market direction in the coming sessions.