Following a retreat in the previous session, investor confidence returned to the Pakistan Stock Exchange (PSX) on Thursday as the benchmark KSE-100 index surged past its previous record, posting a gain of more than 1,200 points.
The upward trend was fueled by positive economic signals and strengthened investor sentiment. In a landmark achievement, Pakistan witnessed its highest-ever annual inflow of home remittances, which crossed $38 billion during fiscal year 2024–25.
This exceptional growth is largely attributed to effective policy initiatives and consistent efforts by the federal government, along with the State Bank of Pakistan (SBP), to promote the use of official remittance channels.
During the session, the index swung between an intra-day peak of 133,902 and an intra-day low of 132,706. By the close of trading, the index stood at 133,782.35, marking an increase of 1,205.36 points, or 0.91%.
Arif Habib Limited wrote in its report that stocks held the support zone at 132–133k this week, with the market hitting a low of 132.3k before resuming its advance.
Read More: Remittances hit record $38.3b
Some 63 shares rose, while 34 declined. Meezan Bank (3.17%), MCB Bank (2.59%), and United Bank (1.09%) contributed the most to index gains. Pakistan Services (-5.34%), Oil and Gas Development Company (-0.61%), and Pakistan State Oil (-1%) were the biggest drags.
Among major news, Pakistan was seeking a valuation of at least $1 billion for the Roosevelt Hotel in New York. In addition, Kohat Cement jumped 8.5% after approving the creation of a wholly owned subsidiary, Ultra Properties, to handle real estate development, marketing, and rental operations.
In the June quarter, AHL's banking universe outperformed the KSE-100 by 17 percentage points in total returns, recording a 24% gain. Heading into the last session of the week, the KSE-100 is currently up 1.4%, with 134.1k as the level to watch for Friday’s session, it predicted.
Topline Securities, in its review, said that after a two-day breather, bulls roared back to life at the PSX as the KSE-100 index surged 1,205 points (+0.91%), closing at 133,782—just shy of the intra-day high of 1,325 points.
Also Read: Govt raises Rs1.62 trillion via T-bill, bond auctions
The upbeat momentum was underpinned by growing investor optimism ahead of the corporate results season, set to kick off on Friday. Anticipation of strong earnings spurred broad-based buying across key sectors. In the textile sector, Nishat Mills Limited (NML) emerged as a standout performer. Topline maintained its "buy" stance on NML with a June 2026 target price of Rs225, adding fuel to the bullish sentiment in the stock.
Overall trading volumes jumped to 941.7 million shares, compared to Wednesday’s tally of 905.7 million. The value of shares traded was Rs36 billion. Shares of 479 companies were traded; of these, 260 stocks closed higher, 195 declined, and 24 remained unchanged.
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