Stock index KSE-100 concludes around 158,000 due to robust buying movement
The global stock market landscape was a mixed bag on Thursday, with some indices gaining ground while others faltered, following the Federal Reserve's first interest rate cut this year.
In Pakistan, the Pakistan Stock Exchange (PSX) defied the global trend and surged to a fresh all-time high. The KSE-100 Index closed at an impressive 157,953.46, marking an increase of 1,775.65 points or 1.14%. This upward momentum was observed throughout the trading session, pushing the KSE-100 to an intra-day high of 158,082.55.
The rally was underpinned by the strength of blue-chip companies, as reported by brokerage house Topline Securities. ENGROH, NBP, MARI, UBL, and BOP collectively added 733 points to the index.
The buying momentum in the Pakistani market was further fueled by the signing of the Strategic Mutual Defence Agreement (SMDA) between Pakistan and Saudi Arabia. According to Sana Tawfik, Head of Research at Arif Habib Limited, this defence pact was a significant driving force in the market.
Meanwhile, the current account posted a deficit of $245 million in August 2025, as per data released by the State Bank of Pakistan (SBP). However, Ms. Tawfik stated that despite rising import pressure, the current account remains contained.
Elsewhere, Japan's Nikkei 225 tacked on 1% on Thursday, while shares in Taiwan rallied 0.4%. In contrast, Chinese stocks veered between gains and losses, and MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1%.
The US equity futures advanced 0.4% on Thursday after an uneven session on Wall Street overnight. Shares in South Korea jumped 0.8%.
The SMDA, signed between Saudi Arabia and nuclear-armed Pakistan, establishes a mutual defense agreement. The agreement states that any aggression against either country shall be considered an aggression against both.
The Pakistani rupee maintained its positive momentum against the US dollar, appreciating 0.01% on Thursday. At close, the rupee settled at 281.47, a gain of Re0.03 against the greenback.
On Wednesday, the PSX witnessed an active yet cautious trading session, with the KSE-100 closing almost flat, shedding 3.12 points to settle at 156,177.82 points.
In summary, while global markets showed a mixed performance, the Pakistan Stock Exchange bucked the trend, hitting a new all-time high, driven by blue-chip strength and the signing of the Strategic Mutual Defence Agreement between Pakistan and Saudi Arabia.
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