KARACHI: Pakistan Stock Exchange (PSX) opened fiscal year 2026-27 on a highly bullish note on Wednesday as investors cheered a softer inflation outlook, declining international oil prices and mounting expectations of an imminent interest rate cut by the State Bank of Pakistan (SBP).
The benchmark KSE-100 Index surged 3,748.40 points, or 2.08 percent, to settle at a record 184,050.10 points, compared with the previous close of 180,301.70 points. The index remained firmly in positive territory throughout the session, touching an intraday high of 184,233.58 points after opening at 180,565.84 points.
The BRIndex100 closed at 20,262.63 points, up 261.69 points, or 1.31 percent, with total traded volume of 656.78 million shares. The BRIndex30 settled at 74,304.16 points, gaining 1,345.73 points, or 1.84 percent, on turnover of 426.90 million shares.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, investor sentiment remained upbeat throughout the day, supported by easing inflationary expectations, lower global crude oil prices and growing optimism that the central bank may soon begin monetary easing.
The brokerage said the release of the latest Consumer Price Index (CPI) data accelerated buying momentum in banking shares as investors priced in a higher probability of an SBP rate cut. Ali Najib, noted that seven of the top ten positive contributors belonged to the banking sector, highlighting the broad-based institutional accumulation in financial stocks.
He added that United Bank Limited (UBL), Meezan Bank Limited (MEBL), Habib Bank Limited (HBL), MCB Bank, Bank Al Habib (BAHL), Bank Alfalah (BAFL), Engro Holdings (ENGROH), Pakistan Telecommunication Company (PTC), National Bank of Pakistan (NBP) and Systems Limited (SYS) collectively contributed 3,210 points to the benchmark index’s gain.
Market activity strengthened considerably as investor participation increased across the board. Ready market turnover rose sharply to 941.48 million shares from 703.69 million shares traded in the previous session, while the value of traded shares climbed to Rs57.09 billion, compared with Rs38.81 billion a day earlier.
The rally also translated into a significant increase in investors’ wealth, with total market capitalization expanding to Rs20.541 trillion, up from Rs20.198 trillion in the previous session, reflecting an increase of more than Rs343 billion.
Market breadth remained decisively positive. Of the 490 companies traded on the ready counter, 297 closed higher, 171 declined and 22 remained unchanged.
K-Electric topped the volume chart with 82.67 million shares, closing at Rs8.33. The Bank of Punjab followed with 77.11 million shares, ending at Rs36.31, while Pakistan Telecommunication Company Limited (PTCL) attracted strong investor interest, hitting its upper circuit to close at Rs72.07 on a volume of 28.75 million shares.
On the gainers’ board, PIA Holding Company Limited (B) emerged as the top performer, rising Rs151.50 to close at Rs18,149.50, followed by Unilever Pakistan Foods Limited, which gained Rs94.80 to settle at Rs25,699.00. Among the decliners, Siemens (Pakistan) Engineering fell Rs31.61 to Rs1,533.14, while Pakistan Engineering Company Limited lost Rs21.62 to close at Rs853.46.
Among the BR sectoral indices, the BR Commercial Banks Index outperformed all other sectors, jumping 3,293.44 points, or 5.49 percent, to 63,274.25 points on an impressive turnover of 165.17 million shares. The BR Tech and Communication Index gained 109.44 points, or 2.84 percent, to close at 3,962.43 points, with trading volume of 102.55 million shares.
The BR Automobile Assembler Index advanced 190.31 points, or 0.79 percent, to 24,282.78 points on turnover of 6.91 million shares, while the BR Cement Index added 104.36 points, or 0.79 percent, to settle at 13,294.24 points with 61.16 million shares traded.
The BR Oil and Gas Index edged up 17.72 points, or 0.11 percent, to 15,554.29 points on turnover of 64.69 million shares. In contrast, the BR Power Generation and Distribution Index was the only sector to finish lower, declining 81.78 points, or 0.27 percent, to 29,741.17 points despite a turnover of 98.33 million shares.
Looking ahead, Ali Najib expects lower oil prices, easing domestic inflation and growing expectations of monetary easing to continue supporting investor sentiment.
However, the brokerage noted that the market’s next direction will largely depend on upcoming geopolitical developments and the State Bank of Pakistan’s forthcoming Monetary Policy Committee meeting.
Copyright Business Recorder, 2026
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