PSX hits new peak amid US investment hopes

The Pakistan Stock Exchange (PSX) kicked off the week on a bullish note, with the benchmark KSE-100 index surging to a record intraday high above 147,000 before settling at an all-time closing high of 146,929 points on Monday. Persistent economic optimism, strong corporate earnings, and expectations of foreign investment inflows drove the rally. According to Topline Securities Ltd, the index gained a substantial 1,547 points, or 1.06pc, during the session, after hitting an intraday high of 1,622 points. The upbeat sentiment was underpinned by reports of US companies preparing to invest in Pakistan’s energy sector, coupled with better-than-expected corporate earnings that boosted investor confidence. Ahsan Mehanti of Arif Habib Corporation attributed the record close to robust financial results, a year-on-year surge in July remittances amounting to $3.2bn, a stable rupee, and optimism surrounding Pakistan-US trade talks. Speculation about a potential breakthrough in trade terms during the Chief of Army Staff’s ongoing visit to the US also played a key role in lifting market sentiment.