Karachi (Web Desk): The Pakistan Stock Exchange (PSX) ended the 2024-25 fiscal year on a historic note, with the benchmark KSE-100 index soaring by 1,248 points (1%) to close at an all-time high of 125,627 on Monday.
Investor confidence surged following the rollover of a $3.4 billion loan by China, which boosted Pakistan’s foreign currency reserves to over $14 billion—meeting the International Monetary Fund’s (IMF) required threshold for reserves as of June 30. This development played a key role in stabilizing the Pakistani rupee and enhancing market sentiment.
The positive momentum was further supported by expectations of upcoming policy reforms, including a potential reduction in industrial power tariffs and government plans to privatize certain state-owned enterprises. Pakistan’s recognition for reducing default risk in the Global Emerging Market Rankings also contributed to the bullish trend.
The KSE-100 index reached an intra-day high of 1,369 points before closing slightly lower but still maintaining a strong gain. Heavyweight stocks such as Fauji Fertilizer Company, Habib Bank Limited (HBL), Bank AL Habib, United Bank Limited (UBL), Pakistan Oilfields, Faysal Bank, and Pakgen Power led the rally, collectively adding 724 points to the index.
Market activity remained robust with over 1.14 billion shares traded, generating a total turnover of Rs35.1 billion. WorldCall Telecom was the volume leader with nearly 140 million shares changing hands. In terms of traded value, Pakistan Aluminium Beverage Cans, Faysal Bank, National Foods, Oil and Gas Development Company, Pakistan Petroleum, Pakistan State Oil, and Fauji Fertilizer Company were among the top contributors.
Brokerage firms like Arif Habib Corp and Topline Securities highlighted the market’s strong close, emphasizing that the combination of external financial support and positive domestic reforms has set a solid foundation for the new fiscal year.