The record-breaking run at the Pakistan Stock Exchange (PSX) continued on Wednesday, with the KSE-100 index closing above 121,000 points for the first time in history.
The index ended the day at 121,798.86, gaining 1,347.99 points or 1.12%.
The market reached a high of 121,882.47 and a low of 120,896.13. Trading volume totaled 292,413,286 shares, with a transaction value of 24,368,739,916.
This follows the historic milestone of the PSX closing above 120,000 points for the first time just the day before.
The market reached a high of 121,882.47 and a low of 120,896.13. Trading volume totaled 292,413,286 shares, with a transaction value of 24,368,739,916.
“Stocks closed all time high led by scrips across the board after $800m ADB approval of financing package, Govt set FY26 growth target at 4.2pc and Govt approval for Rs 880bn PSDP in the federal budget FY26 announcements next week.
-Budgetary relief expected for oil refineries, real estate, agri sector and rupee gains played catalyst role in bullish close at PSX,” Ahsan Mehanti of Arif Habib Corp told Express Tribune.
This follows the historic milestone of the PSX closing above 120,000 points for the first time just the day before.
The positive momentum at the PSX follows the recent approval of an $800 million financial package by the Asian Development Bank (ADB) for Pakistan under the Resource Mobilization Reform Program (Subprogram-II).
Read: ADB approves $800m financial package for Pakistan
The package, apporved by ADB as a snub to India, consists of a $300 million policy-based loan (PBL) and a $500 million program-based guarantee (PBG), which has helped to bolster investor sentiment.
Previously, ADB had postponed the approval of a $800m financing package for Pakistan for five days on the request of India that sought time to evaluate the loan documents, exposing flaws in the lender’s rule book that allows such extensions.
Read More: PSX closes above 120,000 points for first time
Despite a sharp decline in the market earlier in the week, which saw the KSE-100 index drop by 813 points (0.68%) on Monday due to concerns over proposed tax hikes and inflation, the record highs reflect renewed investor confidence as the country’s budget approaches.
