After observing a sharp correction in the previous session, optimism returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index settling at a new high amid a gain of over 1,200 points on Thursday.
At close, the benchmark index settled at 133,782.34 level, a gain of 1,205.36 points or 0.91%.
“The upbeat momentum was underpinned by growing investor optimism ahead of the corporate results season, set to kick off tomorrow. Anticipation of strong earnings reports spurred broad-based buying across key sectors,” brokerage house Topline Securities said in its post-market report.
“In the textile sector, Nishat Mills Limited emerged as a standout performer. Following a report issued by Topline Securities earlier today, investor interest was reinvigorated. We continue to maintain our BUY stance on NML with a June 2026 target price of Rs225, adding fuel to the bullish sentiment in the stock,” it said.
On the leaderboard, MEBL, MCB, UBL, BAHL, FFC, HBL, and BAFL were the top contributors, collectively adding 702 points to the index, Topline stated.
In a historic economic milestone, Pakistan recorded its highest-ever home remittance inflows, exceeding $38 billion during the last fiscal year FY25.
This unprecedented surge is credited to robust policy measures and sustained efforts by the federal government and the State Bank of Pakistan (SBP) to channelise remittances through formal avenues.
On Wednesday, the PSX witnessed a sharp correction as investors opted to book profits following the market’s recent record-breaking rally. The KSE-100 dropped by 826 points or 0.62% to settle at 132,577 points.
Internationally, Asian stocks rose slightly on Thursday, riding on optimism from Nvidia’s brief rise to a world-record $4 trillion valuation and as investors largely shrugged off US President Donald Trump’s latest tariff salvos.
US copper futures widened their premium to the London benchmark overnight after Trump announced plans to impose a 50% tariff on copper. He later said on Wednesday the levies would come into effect on August 1.
Trump also turned his trade ire against Brazil on Wednesday as he threatened a punitive 50% tariff on exports to the US and issued tariff notices to seven minor trading partners.
The latest moves did little to rattle markets, leaving MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.2%.
The Nikkei fell 0.56%, while China’s CSI300 blue-chip index rose 0.2% and Hong Kong’s Hang Seng Index added 0.1%.
EUROSTOXX 50 futures gained 0.18% and FTSE futures advanced 0.33%.
Meanwhile, Pakistani rupee declined further against the US dollar, depreciating 0.03% in the inter-bank market on Thursday. At close, the currency settled at 284.56, a loss of Re0.09.
Volume on the all-share index increased to 941.72 million from 905.74 million recorded in the previous close.
The value of shares rose to Rs36.06 billion from Rs30.53 billion in the previous session.
B.O.Punjab was the volume leader with 155.38 million shares, followed by Kohinoor Spining with 55.11 million shares, and Hascol Petrol with 33.30 million shares.
Shares of 479 companies were traded on Thursday, of which 260 registered an increase, 195 recorded a fall, while 24 remained unchanged.
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