RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) delivered a historic performance on Wednesday, surpassing the psychological milestone of 130,000 points for the first time ever. The market continued its record-breaking upward trajectory driven by aggressive institutional buying, strong earnings expectations, and positive macroeconomic indicators; the market continued its record-breaking upward trajectory.

The benchmark KSE-100 Index soared by 2,144 points or 1.67 percent to settle at 130,344 points on Wednesday compared to 128,200 points on Tuesday. During the intraday trading index hit an intraday high of 130,546 points and low of 128,616 points. The rally was largely fuelled by a surge in heavyweight banking stocks, renewed interest in the pharmaceutical sector, and persistent bullishness in select industrials and energy plays. On Wednesday, BRIndex100 closed at 13,275.85 points, gaining 225.34 points or 1.73 percent with a total turnover of 806.95 million shares, while BRIndex30 edged up by 325.29 points or 0.84 percent to close at 38,824.81 points with a total volume of 480.66 million shares.

According to Topline Securities, during Wednesday’s trading session, the bulls were on a rampage as the KSE-100 shattered records, storming past the 130,000 points milestone. With fixed-income yields offering little excitement, investors are rotating into equities in search of alpha, giving the market a powerful tailwind, it added.

Banks led the charge with blue-chip names like United Bank Limited (UBL), MCB Bank, Bank Alfalah (BAHL), Meezan Bank (MEBL), Habib Bank Limited (HBL), and National Bank of Pakistan (NBP) collectively contributing a remarkable 1,286 points to the index.

Adding to the euphoria, the pharmaceutical sector staged a noteworthy comeback, turning heads after a relatively quiet spell. The Searle Company Limited hit its upper circuit while Citi Pharma Limited, Haelon, and Abbott Laboratories also attracted solid investor interest. Overall market activity remained vibrant. Total trading volumes in the ready market clocked in at a robust 1.02 billion shares slightly lower than yesterday, while the total traded value reached an impressive Rs 49.29 billion as compared to Rs 44 billion on previous day.

WorldCall Telecom (WTL) led the volumes chart with a turnover of 89.8 million shares at the closing rate of Rs 1.61, closely followed by Bank of Punjab (BOP) with 89.5 million shares and Rs 11.54 closing rate, beside Kohinoor Spinning with the closing rate of Rs 6.12 and 46.3 million shares changing hands. The day’s market capitalization swelled to Rs 15.712 trillion from the previous day’s Rs 15.472 trillion, reflecting the addition of Rs 240 billion.

The market breadth remained positive, with 256 companies closing higher, 192 declining, and 25 remaining unchanged at the day’s end as the total 473 companies were active.

Among individual performers, PIA Holding Company Limited registered an increase of Rs 1,778.37 to close at Rs 19,562.10, while Khyber Textile Mills Limited surged by Rs 111.75 to settle at Rs 1,486.16. Conversely, Bhanero Textile Mills Limited and Rafhan Maize Products faced notable declines of Rs 108.56 and 71.20 respectively and settled at Rs 977.06 and Rs 9515.17.

The BR Automobile Assembler Index settled at 21,048.74 points, showing a gain of 505.94 points or 2.46 percent, with a total turnover of 11.81 million shares. The BR Cement Index ended at 10,540.64 points, down by 11.98 points or 0.11 percent, as total traded shares stood at 36.80 million shares. The BR Commercial Banks Index closed at 36,777.60 points, rising by a substantial 1,503.71 points or 4.26 percent on a turnover of 205.03 million shares.

Meanwhile, the BR Power Generation and Distribution Index dropped by 87.35 points or 0.42 percent to finish at 20,621.61 points, with 20.48 million shares changing hands. The BR Oil and Gas Index posted a gain of 149 points or 1.24 percent, closing at 12,206.89 points with a total traded volume of 82.41 million shares. Lastly, the BR Technology & Communication Index edged up by 1.97 points or 0.07 percent to settle at 2,983.15 points, with 135.9 million shares traded during the session.

Adding its perspective, JS Global in its market commentary stated that the bullish momentum is driven by easing inflation — June CPI fell to 3.2% year-on-year — alongside favourable macroeconomic indicators and fiscal reforms outlined in the FY26 federal budget. Renewed investor confidence is clearly evident, with strong participation across key sectors, it added.