Buying returns at PSX, KSE-100 Index up nearly 1,000 points

Buying returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,000 points on Thursday.

After opening with strong momentum, the index experienced multiple waves of buying interest that consistently defended higher support levels.

Despite a notable pullback in the afternoon, dragging the index to an intra-day low of 170,563.40, aggressive accumulation near the 170,700–170,900 zone helped the market recover and push toward the intra-day high of 171,455.76.

At close, the benchmark index settled at 171,175.50, recording a gain of 984.86 points or 0.58%.

“The upside momentum was largely driven by broad-based buying interest, supported by easing geopolitical tensions in the Middle East. The absence of any conclusive escalation in the US–Iran dynamics, along with its calming effect on global oil prices, helped restore some investor confidence,” brokerage house Topline Securities said.

“On the index contribution front, heavyweight stocks remained in focus, with Fauji Fertilizer Company Limited, Pakistan Petroleum Limited, Oil & Gas Development Company Limited, Lucky Cement Limited, and Pakistan Telecommunication Company Limited collectively contributing approximately 458 points to the benchmark’s gains.”

Pakistan government will present the federal budget for the fiscal year 2026-27 on Wednesday, June 10, to set out its fiscal priorities and policy measures for the forthcoming financial year, a govt official confirmed on Thursday.

This was confirmed by Advisor to the Finance Minister Khurram Schehzad.

He further added that the Economic Survey 2025-26 (FY26) would be released on Tuesday, June 9, 2026 to provide a review of the country’s economic performance during the outgoing fiscal year.

On Wednesday, PSX ended yesterday’s session in negative territory as investors remained cautious amid the absence of meaningful progress on the United States-Iran diplomatic front, prompting broad-based selling across key sectors and keeping market momentum fragile throughout the day. The KSE-100 Index lost 831.13 points, or 0.49%, to close at 170,190.64 points.

Internationally, Asian stocks fell on Thursday as renewed fighting between the US and ​Iran rattled investors, although oil slipped from recent highs after Israel and Lebanon agreed to a ceasefire.

MSCI’s broadest index of ‌Asia-Pacific shares outside Japan was down 1.5%, while S&P 500 e-mini futures slipped 0.5%. Korean shares reopened as much as 2.6% lower after a holiday, while Japan’s Nikkei 225 slumped 1.9%.

Stocks on Wall ​Street dropped overnight, with the S&P 500 falling 0.7% and oil prices rising around 2% as talks between Tehran and Washington showed ​little progress and hostilities erupted anew.

Traders looked through better-than-expected US ISM services sector PMI data, which rose in May ⁠as businesses preemptively placed orders and rebuilt inventories in anticipation of shortages and higher prices because of the Iran war.

Oil prices fell on Thursday after a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end the U.S.-Israeli war with Iran that could lead to a reopening of the Strait of Hormuz.

Trade was cautious and losses were limited. Brent futures were down $1.14, or 1.2%, to $96.67 a barrel at 1022 GMT, while U.S. West Texas Intermediate crude was down 90 cents, or 0.9%, to $95.12.

Meanwhile, the Pakistani rupee appreciated 0.01% against the US dollar in the inter-bank market on Thursday. At close, the local currency settled at 278.42, a gain of Rs0.03 against the greenback.

Volume on the all-share index increased to 697.16 million from 551.94 million recorded in the previous close.

The value of shares declined to Rs26.13 billion from Rs23.76 billion in the previous session.

Beco Steel Ltd was the volume leader with 113.09 million shares, followed by Pak Int.Bulk with 32.16 million shares, and WorldCall Telecom with 31.10 million shares.

Shares of 492 companies were traded on Thursday, of which 316 registered an increase, 128 recorded a fall, and 48 remained unchanged.