Yet another record high as KSE-100 soars past 143,000 points

Buying rally continued at the Pakistan Stock Exchange (PSX) amid continued investor optimism, with the benchmark KSE-100 Index closing above the 143,000 level, a new record high, on Tuesday.

Positive momentum was observed throughout the trading session, pushing the KSE-100 to an intra-day high of 143,281.34.

At close, the benchmark index settled at 143,037.16, an increase of 984.52 points or 0.69%.

“Investor confidence remained buoyant, fueled by robust local and foreign inflows and broad-based sectoral rallies. Sentiment further strengthened as Pakistan reported a 9-year low fiscal deficit of 5.38% in FY25, with 36% YoY revenue growth outpacing an 18% rise in expenditures, beating both the government and IMF’s 5.6% GDP deficit forecast,” brokerage house Topline Securities said in its post-market report.

“The market’s upward trajectory reflects optimism over fiscal discipline, macroeconomic stability, and a stronger earnings outlook, setting the stage for sustained momentum in the sessions ahead.”

Major positive contributors included FFC, UBL, MCB, HUBC, and EFERT, which collectively added 679 points to the index. On the downside, PPL, BAHL, and HBL together shaved off 142 points, Topline said.

On Monday, the PSX closed on a bullish note. Strong corporate developments, expectations of robust earnings across key sectors, and sustained investor optimism drove the rally. The KSE-100 Index surged by 1,017 points or 0.72% to settle at a historic high of 142,052.65.

Globally, shares in Asia rose for a second consecutive session, and the US dollar held most of its losses on Tuesday as investors increased bets the Federal Reserve will act to prop up the world’s largest economy.

US shares rallied on Monday on generally positive earnings reports and increasing bets for a September rate cut from the Fed after disappointing jobs data on Friday.

Oil remained lower after output increases by OPEC+ and threats by US President Donald Trump to raise tariffs on India over its Russian petroleum purchases. Japan’s Nikkei rallied, with data showing a jump in the nation’s service sector activity in July.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6% in early trade. The Nikkei climbed 0.5% after falling by the most in two months on Monday.

Odds for a September rate cut now stand at about 94%, according to CME Fedwatch, from a 63% chance seen on July 28. Market participants see at least two quarter-point cuts by the end of this year.

Meanwhile, the Pakistani rupee maintained its upward trajectory against the US dollar, appreciating 0.03% in the inter-bank market on Tuesday. At close, the currency settled at 282.57, a gain of Re0.09.

Volume on the all-share index decreased to 549.72 million from 666.37 million recorded in the previous close.

The value of shares declined to Rs37.04 billion from Rs42.92 billion in the previous session.

Fauji Cement was the volume leader with 31.71 million shares, followed by First Dawood Prop with 24.78 million shares, and Invest Bank with 18.11 million shares.

Shares of 484 companies were traded on Tuesday, of which 239 registered an increase, 217 recorded a fall, while 28 remained unchanged.