KARACHI:

Bulls continued to maintain their firm grip over the Pakistan Stock Exchange (PSX) on Wednesday as the KSE‑100 index roared past 150.5k points, a historic high that came on the back of Moody’s ratings upgrade for banks and encouraging corporate‑sector earnings. Robust interest from local institutions in stock buying and a modest current account deficit for July also lent support to the stock market, which rose 820 points, or 0.55%, and closed at 150,591.

"Stocks closed at an all‑time high after Moody's Ratings upgraded the local and foreign‑currency long‑term deposit ratings of five leading Pakistani banks to Caa1 from Caa2, following its recent decision to raise the country's sovereign rating," commented Ahsan Mehanti of Arif Habib Corp.

"Upbeat data showing $284 million in current account deficit amid strong remittances, rising exports and rupee stability powered the market's record close," he said. Topline Securities, in its report, said bulls showed no signs of fatigue at the local bourse, storming ahead to notch the intra‑day record high with gains of 1,490 points before settling at 150,591, up 820 points (+0.55%). The upward momentum was underpinned by better‑than‑expected corporate earnings and a strong liquidity push from local institutions, lifting the benchmark index to uncharted heights, it said, adding that investor confidence remained buoyant as market heavyweights attracted robust flows, reinforcing the bullish undertone.

The rally was largely fuelled by index heavyweights including Systems Limited, Bank AL Habib, NBP, MCB Bank and Bank Alfalah, which contributed 503 points to the upward trajectory, Topline mentioned. KTrade Securities wrote in its market wrap that the index delivered another historic performance, surging 820 points to close at a record high of 150,591, after briefly touching intra‑day peak of 151,262. The rally was primarily fuelled by strong performance in the banking and tech sectors. Major contribution to the index came from banks, technology and pharma stocks, it said. KTrade anticipated the bullish sentiment to remain in place with some profit‑taking and consolidation at record levels.

Arif Habib Limited (AHL) stated that key contributors to the index were Searle (+10%), NBP (+3.53%) and Systems Limited (+3.52%) while Engro Fertilisers (-1.29%), Engro Holdings (-1.10%) and Fauji Fertiliser (-1.05%) were the biggest drags.

On the macro front, the current account for July 2025 posted a deficit of $254 million, which marked an improvement from the deficit of $348 million in July 2024, though it switched from a surplus of $335 million in June 2025, it said. In addition to that, Moody's Ratings upgraded the local and foreign‑currency long‑term deposit ratings of five major Pakistani banks from Caa2 to Caa1 — a development that may improve investor confidence in the financial sector.

In the services sector, IT and ITeS exports, including computer services and call centre services, grew 24% year‑on‑year in July, reaching $354 million, AHL added.

Overall trading volumes decreased to 667.8 million shares compared with Tuesday's tally of 809.1 million. Traded value stood at Rs40.7 billion. Shares of 487 companies were traded. Of these, 240 advanced, 216 dropped and 31 remained unchanged. The Bank of Punjab was the volume leader with trading in 52.3 million shares, gaining Rs0.16 to close at Rs14.92. It was followed by WorldCall Telecom with 36.3 million shares, rising Rs0.03 to close at Rs1.48 and Fauji Foods with 33.6 million shares, climbing Rs0.52 to close at Rs16.42. Foreign investors sold shares worth Rs1.92 billion, the National Clearing Company reported.

PSX reaches new peak above 150,500

The Pakistan Stock Exchange (PSX) hit a record high, closing at 150,591 points on 21 August 2025. The rally was driven by Moody’s upgrade of bank deposit ratings, improved current‑account data, strong corporate earnings, and robust buying by local institutions. Key contributors were banks and technology firms, while foreign investors sold shares worth Rs1.92 billion.