KARACHI, May 15, 2025 — The Pakistan Stock Exchange (PSX) witnessed a historic trading session on Thursday as the benchmark KSE-100 index surged to an all-time high, closing at a remarkable 119,962 points.
This sharp rise comes amid growing investor optimism surrounding the upcoming fiscal year 2025–26 (FY26) budget.
The KSE-100 index posted a robust gain of 1,425 points, or 1.2%, compared to the previous day’s closing of 118,537 points. This performance marks not only a new record for the index but also reflects heightened investor confidence in anticipated pro-growth fiscal measures expected in the FY26 federal budget.
Analysts at Topline Securities Limited attributed the bullish sentiment to growing market expectations of investor-friendly reforms and fiscal incentives. “Bulls dominated the local bourse today as optimism regarding the upcoming budget drove the KSE-100 index to unprecedented levels,” the firm stated.
The session saw a strong intraday rally, with the KSE-100 index climbing as much as 1,453 points at one stage, ultimately settling just one point below the 120,000 threshold. The rally was broadly supported by both institutional and retail participation.
Sector-specific momentum also played a key role, especially in the refinery segment. Refinery stocks closed in the green as the government moved closer to finalizing a binding legal agreement between oil marketing companies (OMCs) and refineries. Key provisions, such as take-or-pay clauses, are expected to resolve long-standing issues related to product upliftment and high-speed diesel (HSD) imports. This development is seen as a step toward enhancing transparency and efficiency in the oil supply chain.
Leading the charge were heavyweight stocks including UBL, ENGRO, HUBC, EFERT, and MEBL, which collectively contributed 656 points to the KSE-100 index.
Market participation also saw a significant boost. Total trading volume soared to 695 million shares, while the traded value clocked in at PKR 39.01 billion. PRL emerged as the volume leader with 50.8 million shares exchanged.
With investors buoyed by hopes of a growth-centric FY26 budget, the KSE-100 index appears well-positioned to maintain its bullish trajectory in the near term.