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KARACHI: The Pakistan Stock Exchange (PSX) celebrated the start of the new fiscal year with a remarkable rally on Wednesday, driven by increasing economic optimism.
Easing inflationary pressures due to falling oil prices and higher revenues triggered aggressive buying, pushing the benchmark KSE-100 index above the 184,000 level. The recent de-escalation of tensions in the Middle East, with the US and Iran initiating technical talks at the Strait of Hormuz, has paved the way for smoother energy shipping.
Topline Securities Ltd said the bulls extended their dominant run on the PSX, with strong buying interest fuelling a broad-based rally throughout the session. The benchmark index surged to an intraday high of 3,931 points before closing at 184,050, up 3,748 points or 2.08 per cent.
The Federal Board of Revenue (FBR) exceeded the downwardly revised target of Rs12.983tr by more than Rs21 billion, reaching Rs13.010 trillion in FY26, mainly due to stronger-than-expected income tax receipts.
