Fitch, Moody’s upbeat economic outlook, circular debt reforms propel KSE-100 index higher by 1,574 points
KARACHI: The Pakistan Stock Exchange (PSX) soared past another record on Tuesday, breaking the 150,000 mark for the first time ever during intraday trading. Analysts remarked that the bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in the banking and cement sectors. Additionally, investor sentiment was bolstered by a positive economic outlook from both Fitch and Moody’s, and the government’s attempts to settle the circular debt. The sustained market momentum propelled the KSE-100 index to an intraday high of 150,323, before it closed at 149,770.75 — an increase of 1,574.32 points, or 1.06%. According to Ahsan Mehanti of Arif Habib Corp, stocks closed at an all-time high, as investors weighed Fitch and Moody’s robust economic outlook, with Fitch projecting growth of 3.5% for FY27. Additionally, the government’s plans to cut Rs2.6 trillion worth of circular debt — alongside upbeat data on exports, cement dispatches, and rupee stability — drove the PSX to the record close, he noted. In its market review, Topline Securities remarked that the bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in the banking and cement sectors. According to a Topline analyst, cement sales are gaining momentum in August 2025, and earnings could exceed expectations. This sustained optimism propelled the benchmark KSE-100 index to an intraday high of 150,323, up 2,127 points, before it closed at an all-time high of 149,771 — marking a net gain of 1,572 points, it said. The rally was largely fuelled by index heavyweights including Bank AL Habib, UBL, Lucky Cement, Meezan Bank, and Engro Corporation, which collectively contributed 1,306 points to the index’s upward trajectory. Overall trading volumes increased to 809.1 million shares, compared with Monday’s tally of 610.3 million. Traded value rose to Rs48.4 billion, as compared to Rs39.2 billion in the previous session. Shares of 483 companies were traded. Of these, 265 stocks closed higher, 194 dropped, and 24 remained unchanged. WorldCall Telecom was the volume leader, with trading in 52.3 million shares, gaining Rs0.05 to close at Rs1.45.
