ISLAMABAD: The Pakistan Stock Exchange (PSX) performed exceptionally well following the budget announcement, as the benchmark KSE-100 Index settled at a new record high of 124,352.68 on Wednesday.
Bullish momentum continued throughout the trading session, taking the KSE-100 to an intra-day high of 124,588.17.
At close, the benchmark index settled at 124,352.68, showing an increase of 2,328.24 points or 1.91%.
The buying momentum was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, PSO, WAFI, MARI, OGDC, PPL, POL, HBL, MCB, MEBL and UBL traded in the green.
PM hails PSX performance
Prime Minister Shehbaz Sharif expressed satisfaction over the stock market reaching a historic high of 124,000 points.
In a statement, he said the bullish trend in the stock market reflects the confidence of investors and the business community in the people-friendly budget.
He mentioned that no additional tax burden has been imposed on the common man in the budget, and an increase in salaries and a reduction in taxes will provide relief to the salaried class.
The Prime Minister said the journey of economic development has begun. He said that we all must work together to improve the lives of ordinary people.
He added that the reduction in inflation and increase in foreign exchange reserves, remittances, and exports have been made possible due to the tireless efforts of the economic team.
On Wednesday, a total of 1,041,129,574 shares were traded as compared to 592,952,761 shares the previous working day, whereas the price of shares stood at PKR 46.707 billion against PKR 21.827 billion on the last trading day.
As many as 478 companies transacted their shares in the stock market, 283 of them recorded gains and 157 met losses, whereas the share price of 38 companies remained unchanged.
The three top trading companies were Pervez Ahmed Company with 78,292,186 shares at PKR 2.00 per share, followed by WorldCall Telecom with 55,140,713 shares at PKR 1.45 per share, and Sui South Gas settled with 45,087,896 shares at PKR 41.14 per share.
Rafhan Maize Products Company Limited witnessed a maximum increase of PKR 117.58 per share, closing at PKR 9,830.52, whereas Hoechst Pakistan Limited was the runner-up with PKR 96.07 rise in its share price to close at PKR 3,307.07.
PIA Holding Company LimitedB witnessed a maximum decline of PKR 2,591.10 per share price, closing at PKR 23,319.88, whereas the runner-up Khyber Textile Mills Limited with a fall of PKR 246.16 in its per share price to PKR 2,215.49.
Government eyes 4.2% Growth in FY 2025-26
Finance Minister Muhammad Aurangzeb on Tuesday unveiled a PKR 17.6 trillion budget for the fiscal year 2025-26, outlining a roadmap for inclusive, sustainable, and competitive economic growth.
Presenting the budget in the National Assembly, Aurangzeb described it as the beginning of a strategic shift aimed at fostering a more competitive economy.
The proposed measures are designed to boost exports, strengthen foreign exchange reserves, and improve overall economic productivity while reducing structural imbalances.
He stated that the government is targeting a GDP growth rate of 4.2% and projecting inflation at 7.5% for the next fiscal year.
The budget also aims to reduce the fiscal deficit to 3.9% of GDP, while maintaining a primary surplus of 2.4%, marking the third consecutive year of primary surpluses — a notable achievement after two decades.
The minister added that the budget sets the foundation for long-term economic reforms and fundamental changes to the structure of Pakistan’s economy.
