PSX soars past 169,000 points; amasses over 1,000 points gains

KARACHI: The Pakistan Stock Exchange (PSX) surged sharply on Tuesday, powering past the psychological barrier once again as a strong wave of bullish sentiment lifted the benchmark index to 169,320.18 points in early trade. The rally, building on yesterday’s positive close, saw the KSE-100 jump 1,016 points, reinforcing investor confidence that has been steadily improving over the past two sessions.

Monday had already set the tone for the week, with the market rising nearly 600 points in early trade and closing at 168,303.24 points after days of consolidation. Analysts attributed the continued momentum to a blend of upbeat macro indicators, expectations linked to the pending IMF board meeting, and strengthened confidence after Saudi Arabia extended its $3 billion deposit facility until 2026.

Although concerns persisted last week over a widening trade deficit and revenue shortfalls, the easing of inflation and prospects of monetary stability helped keep sentiment from slipping.

Today’s surge reflects a market eager to reclaim new highs, particularly with energy-sector optimism tied to potential circular debt reforms. Traders say the combination of policy expectations and improving liquidity has encouraged aggressive positions.

Meanwhile, the dollar continued its gradual decline in the interbank market. According to the Exchange Companies Association, the rupee gained another paisa, bringing the dollar down to Rs 280.40. The steady softening of the dollar has added further support to investor confidence as the market eyes what could be another landmark week for the PSX.