PSX extends record rally for seventh session

KARACHI: The Pakistan Stock Exchange (PSX) continued its record-setting streak for a seventh consecutive session on Wednesday, as investor enthusiasm remained strong.

The market saw a tussle between bulls and bears during the early hours, with the index fluctuating between a high of 915 points and a low of 484 points. By the close, the bulls took charge, pushing the benchmark KSE-100 index to 157,020.80, up by 457.27 points or 0.29 per cent.

Investor confidence was buoyed by strong flows into market heavyweights like Engro Fertiliser, Pakistan Petr­oleum Ltd, and Mari Ene­rgies, adding 363 points to the index. However, stocks such as Engro Holdings and Habib Bank weighed down the market, subtracting 316 points.

According to Topline Securities, a notable development was the overwhelming success of Image Reit’s book-building, which was fully subscribed in just 90 minutes and is already 1.15 times oversubscribed.

Despite these positive market movements, the country faces significant economic challenges, particularly flood-induced disruptions. These natural disasters have exacerbated existing supply shocks, posing threats to agriculture and infrastructure, while heightening fiscal concerns. These risks have cast a shadow on the broader economic outlook, contrasting with the bullish spell on the PSX.

On the corporate front, Interloop Ltd exceeded expectations with its FY25 results, reporting an earnings per share (EPS) of Rs3.96, along with a Re1 cash dividend. However, trading volume fell by 6.76pc to 996.27 million shares, with a slight dip in value by 4.46pc to Rs52.7bn.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that while the PSX saw positive momentum, bouts of profit-taking and cautious trading are expected to continue. The AHL survey also suggests that the SBP is likely to maintain the policy rate at 11pc this month, amid inflationary and external pressures, compounded by ongoing flood-related challenges.

Looking ahead, analysts anticipate further volatility and a period of consolidation within the 155,000-157,000 range, with the 154,000 level seen as a cushion if selling pressure intensifies.

Published in Brackly News, September 11th, 2025