The Pakistan Stock Exchange (PSX) started the week on a high note, with the benchmark KSE-100 index surging past the 136,000-point mark in intraday trading. The index opened at 134,299.76 points and quickly gained 1,841.11 points (1.37%), settling at 136,012.05 points by midday. Trading activity remained strong, with 134.88 million shares worth Rs. 11.12 billion exchanged, reflecting heightened investor confidence.
This upward trend follows last week’s record-breaking performance, where the PSX crossed the 134,000-point threshold—driven by strong macroeconomic indicators and consistent buying from local mutual funds. Analysts attribute the rally to improving economic fundamentals, including rising remittances, growing forex reserves, and a rebound in auto sales, which have collectively boosted market sentiment.
Remittances hit a historic high of $3.4 billion in June, marking an 8% year-on-year increase and lifting FY25 inflows to a record $38.3 billion—a 27% jump from the previous year. Meanwhile, the State Bank of Pakistan’s forex reserves climbed to $14.5 billion, the highest level in 39 months, further strengthening investor optimism.
The auto sector also contributed to the bullish trend, with car sales soaring 64% year-on-year in June to 21,773 units, according to PAMA data. For FY25, total sales surged 43% to 148,000 units, partly due to pre-buying ahead of a proposed GST hike on smaller vehicles. With these positive indicators, market experts predict sustained growth in the coming sessions, provided economic stability holds.