PSX extends winning streak, KSE-100 gains 1,429 points to 164,467

The Pakistan Stock Exchange extended its winning streak on Tuesday, with the benchmark KSE-100 index staying in positive territory through the session, according to The Express Tribune.

The index gained 1,428.73 points, or 0.88%, and settled at 164,467.20, against 163,038.47 points in the previous session, as reported by Daily Times. During the day it touched a high of 164,787.67 and a low of 163,545.70.

Buying was seen in cement, commercial banks, oil and gas exploration and oil marketing stocks after a strong opening. Ahmed Sheraz, an equity trader at KASB KTrade, said commercial banks, cement, fertiliser and automobile sectors drew the most interest. MCB Bank, Fauji Fertiliser, UBL, Pakistan Petroleum and NBP were among the main contributors.

Ali Najib of Arif Habib Limited said the rally was driven mainly by relief after the State Bank of Pakistan raised its policy rate by 50 basis points, less than the 100 basis points some market participants had expected. The policy rate is now 12%. He said sentiment was also helped by diplomatic efforts by Makkah alliance countries, including Pakistan, Saudi Arabia and Turkiye, whose officials held high-level talks in Iran on resolving the US-Iran conflict.

International oil prices fell on expectations of easing hostilities in the Middle East, but attacks on Saudi Arabia and shipping kept prices near six-month highs. Brent crude traded around $115-116 a barrel, which raised concerns about imported inflation.

Sheraz said the market is expected to stay mixed-to-cautious, with corporate earnings, oil prices, geopolitical developments and macro indicators setting direction. He said volatility is likely to remain elevated, and pointed to uncertainty over the Middle East, Israeli elections and the US midterm polls.

Trading volume in the ready market rose to 401.969 million shares from 376.019 million on Monday, and the value of traded shares was Rs18 billion. Of 497 companies traded, 282 closed higher, 170 fell and 45 were unchanged.

The State Bank also reported cumulative net foreign exchange interventions of $17.2 billion between June 2024 and July 2026, including $863 million in July 2026.