Record-breaking streak continues at PSX

(Web Desk): The Pakistan Stock Exchange (PSX) continues to break records, with the market setting a new milestone on the third trading day of the week.

During Wednesday’s session, the KSE-100 Index reached a new all-time high of 144,000 points.

This new record comes on the heels of the government's fiscal deficit falling to its lowest level in nine years. On Wednesday, the KSE-100 Index surged by 1,145 points, reaching a new peak of 144,182 points.

According to the PSX website, as of 10:49 AM on Wednesday, shares of 444 companies had been traded. Of these, 294 companies saw an increase in share prices, 130 companies saw a decrease, and 20 remained unchanged.

It is worth noting that the previous day, the government released fiscal statistics for the year 2025, reporting a fiscal deficit of 5.38%, the lowest in nine years. Revenue grew by 36% year-on-year, significantly outpacing the 18% increase in expenditures.

This performance not only exceeded expectations but also outperformed the IMF’s projected GDP deficit of 5.6%. Positive fiscal data, financial discipline, and economic stability boosted investor confidence, with expectations of continued market bullishness in upcoming sessions.

Earlier, on Tuesday, the KSE-100 Index had already set a record by rising 1,189 points, crossing the key 143,000-point psychological barrier.

Major companies such as Fauji Fertilizer, United Bank, MCB Bank, Hub Power, and Engro Fertilizer contributed a combined 679-point gain to the index. However, declines in Pakistan Petroleum, Bank Al Habib, and Habib Bank shares caused a 142-point drag.

Ahsan Mehanti of Arif Habib Corporation stated that the PSX reached new highs during the earnings season, supported by strong income forecasts. He also cited the government’s reinstatement of subsidies for a fully-funded remittance scheme and reports of a potential resolution to the power sector’s circular debt issue as major drivers of the rally.