ISLAMABAD: The Pakistan Stock Exchange (PSX) on Monday extended its bullish momentum and surpassed the historic 142,000-point mark, with analysts attributing the rally to hopes of strong corporate earnings ahead and a stable rupee.
The benchmark KSE-100 index rose by 1,017.66 points, or 0.72 percent, to close at an all-time high of 142,052.64 points, up from the previous close of 141,034.98 points.
Ahsan Mehanti, the CEO of Karachi-based Arif Habib Commodities, said stocks reached the new all-time high amid speculations ahead of major earning announcements due this week.
“Strong financial results, favorable US tariff deal, rupee stability, government’s resolve to end power sector circular debt crises and thin inflation data for Jul’25 played catalyst role in bullish close at PSX,” he said.
Pakistan’s currency, which last month fell to a 22-month low of Rs284.97 against the US dollar, has lately recovered thanks to an intervention by Pakistani intelligence and investigation agencies, who have been cracking down on dollar smugglers and hoarders. The greenback closed at Rs282.66 as the Pakistani rupee gained 0.02 percent on Monday, according to central bank data.
