Pakistan Stock Exchange Opens FY 2025-26 with Record-Breaking Rally

KARACHI:
The Pakistan Stock Exchange (PSX) welcomed the new fiscal year 2025–26 with historic momentum, as the benchmark KSE-100 index surged past 128,000 points, marking an all-time high for the country’s stock market.

At the opening bell on Tuesday, the KSE-100 index jumped by 1,080.71 points (0.85%), reaching 126,708.02 points. The bullish wave continued through the day, with the index soaring by over 2,500 points to peak at 128,142 by midday.

Catalysts Behind the Surge

Market analysts attribute this unprecedented rise to a combination of geopolitical stability and positive macroeconomic developments, including:

• $3.4 billion debt rollover by China, which boosted Pakistan’s foreign exchange reserves to over $14 billion, helping meet IMF’s end-June reserve target.
• Continued ceasefire in the Middle East, contributing to regional market calm.
• Pakistan’s ranking improvement in Global Emerging Market (EM) Default Risk Reduction, bolstering investor confidence.
• Hopes for new economic policy reforms in the new fiscal cycle.

Investor Sentiment & Volume

During the session:

• 374 companies were traded:
  • 247 advanced,
  • 117 declined,
  • 10 remained unchanged.
• The previous session on Monday had already closed at a record 125,627 points, up by 1,248.25 points (1%).
• Trading volume reached 1,145 million shares, with a total value of Rs35.2 billion.

Top Gainers & Drags

Leading the charge were major stocks:

• Fauji Fertilizer Company (FFC)
• HBL
• UBL
• Bank AL Habib
• Pakistan Oilfields
• Faysal Bank
• Pakgen Power
  These collectively contributed +724 points to the index.

On the downside, a few large-cap stocks pulled the index slightly:

• Engro Fertilisers (-1.57%)
• Hub Power (-0.78%)
• Pakistan Petroleum (-0.6%)

Volume Leaders

• WorldCall Telecom: 139.9 million shares (+Rs0.13)
• Kohinoor Spinning Mills: 96.4 million shares (+Rs1.00)
• TPL Properties: 51.7 million shares (+Rs0.30)

Despite the bullish trend, foreign investors sold shares worth Rs1.2 billion, according to the NCCPL.