Pakistan Stock Exchange (PSX) continued its upward momentum for the third consecutive day on Thursday, with the Benchmark KSE-100 index reaching a highlight of 126,025.99 points under trading within day.
The index increased by 1,673.31 points, or 1.35%, in the early trade that marked a new milestone for Bourse during the intra-day trade.
The index reached a daily height of 126,055.32 and a low low of 124,807.09.
The previous closure was registered at 124,352.68. Trade volume was registered at 113,574,464 shares with a total value of 11,375,804,736.
Earlier on Wednesday, PSX saw a significant demonstration in which the KSE-100 index increased by 2,328 points (1.91%) to a highest height of 124,352.68, driven by investor optimism after the federal budget message.
The budget, which maintained the status quo on equity taxation and increased withholding tax on bank deposits, became welcome by market participants as it was seen as favorable for the capital markets and the economy.
Analysts emphasized that budget provisions, including projections of a 3.9% tax deficit and an RS1 Billion federal PSDP, added to the bullish mood.
Read more: PSX at New Peak as the budget sparks optimism
Arif Habib Corp MD Ahsan Mhanti observed that shares reached a new highest time, led by activity across board as investors cheered the status quo on equity taxes and higher withholding taxes on bank deposits in the FY26 budget.
Wide-based participation ran rally with strong gains in sectors such as cement, oil and gas, bank and fertilizer. Remarkable stocks such as Lucky Cement, Fauji Fertilizer and Pakistan Petroleum experienced significant gains.
Investor’s confidence was further increased by avoiding new taxes and continuation of subsidies for key sectors.
JS Global Analyst Mubashir Anis Naviwala said the stock market welcomed the budget with strong optimism and broke all resistance levels to cross the 124,000 mark.
A new historic intra-day high at 124,588 was reached before the index decided on 124,353, up 2,328 points.
The market saw a sharp increase in trading quantities and reached 1.04 billion shares with a value of RS46.7 billion. Today’s trade also experienced a positive trend in shares where 283 shares closed higher.
However, foreign investors sold shares worth RS1.1 billion, reported by National Clearing Company.
