Pakistan Stock Exchange Surges Past 145,000 Points: Banks and Optimism Drive Rally

Strategic Insights -

The Pakistan Stock Exchange (PSX) continued its record-shattering drive on Wednesday, with the KSE-100 index gaining 2,051 points (+1.43%) day-on-day to close at a new all-time high of 145,088. The surge was largely driven by banks and optimism about a positive outcome of the recent Pakistan-US trade agreement. Top gainers included Habib Bank, National Bank, United Bank, Meezan Bank, Engro Fertilisers, and Engro Holdings.

Key Takeaways:

  • The KSE-100 index surged past 145,000 points, marking a new milestone in its record-shattering drive.
  • Banks remained the key driver of the rally, with Habib Bank, National Bank, and United Bank gaining 9.71%, 9.83%, and 1.83%, respectively.
  • The Pakistan-US trade agreement and the possibility of new US tariffs on India boosted investor optimism and interest in Pakistan's export-oriented companies.
  • MCB Bank posted 2QCY25 earnings per share (EPS) of Rs12.3, reflecting a 13% year-on-year (YoY) decline, resulting in 1HCY25 EPS of Rs24.67 (-16% YoY).
  • Arif Habib Limited (AHL) predicted that the bullish trend would continue due to strong momentum and investor optimism.
  • KTrade Securities analyst Ahmed Sheraz commented that the stock market continued its bullish streak, with a 1.43% day-on-day gain.

Statistics:

  • The KSE-100 index gained 2,051 points (+1.43%) day-on-day to close at 145,088.
  • Banks contributed majorly to the rally, with Habib Bank, National Bank, and United Bank gaining 9.71% and 9.83% respectively.
  • Out of 62 advanced stocks, Habib Bank and National Bank led the gainers, followed by United Bank.
  • The number of stocks that fell was 37, with Fauji Fertiliser (-1.04%), Lucky Core Industries (-2.24%), and Pakgen Power (-1.63%) being the biggest drags.

Sources:

  • KTrade Securities analyst Ahmed Sheraz's comments.
  • Arif Habib Limited (AHL) report.
  • Pakistan Stock Exchange (PSX) data.