The Pakistan Stock Exchange (PSX) extended its rally on Thursday, driven by positive global market sentiment and hopes for favorable fiscal policies ahead of the budget announcement. The benchmark KSE-100 Index gained 638.50 points, or 0.54 percent, closing at 118,971.40—just short of the 119,000 level.
Investor enthusiasm was fueled by a U.S. court ruling blocking tariffs proposed by former President Donald Trump, which lifted global equities and encouraged buying in key sectors. The index reached an intraday high of 119,639.47 as broad-based demand emerged in automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms, and power generators.
Major contributors to the upward trend included heavyweights like HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL, and NBP. Earlier in the week, the market showed signs of recovery amid speculation of a real estate support package benefiting cement stocks. The exchange was closed on Wednesday in observance of Yaum-e-Takbeer.
Overall, the PSX displayed cautious optimism as investors positioned themselves ahead of expected fiscal clarity and economic reforms.