KARACHI, July 12, 2025 – The Pakistan Stock Exchange (PSX) extended its bullish momentum on Friday as the KSE-100 Index surged to an all-time high, backed by improving macroeconomic fundamentals and upbeat sentiment ahead of the upcoming corporate earnings season.
The benchmark index touched a new intraday peak of 134,920.76, up by 1,138.42 points (0.85%), while the day’s low stood at 134,130.40, still reflecting a gain of 348.06 points (0.26%).
According to Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, “The rally is fueled by improved macroeconomic indicators and positive expectations surrounding corporate results.”
The rally comes on the heels of strong economic data released by the State Bank of Pakistan (SBP), revealing a $1.938 billion jump in total foreign reserves, which now stand at $20.029 billion as of July 4. The SBP’s own reserves rose by $1.774 billion to $14.502 billion, while commercial banks’ reserves increased by $163 million to $5.527 billion.
This improvement was attributed to inflows from multilateral lenders, commercial sources, record remittances, and the SBP’s dollar purchases from the interbank market. SBP reserves have now surpassed the IMF’s target of $13.9 billion, closing FY2025 with a more-than-expected buffer.
Key support came from China’s rollover of $3.4 billion, a $1 billion mobilisation from Middle Eastern commercial banks (facilitated by an ADB-backed $500 million guarantee), and additional funding from international financial institutions.
Meanwhile, remittances hit an all-time high of $38.3 billion in FY2025, reflecting a 27% year-on-year increase. June alone saw inflows of $3.4 billion, up 7.9% from June 2024, although slightly lower than May 2025’s figures.
On Thursday, the KSE-100 Index had gained 1,205.36 points (0.91%), closing at 132,782.35, with the session’s range between 132,706.03 and 133,902.34 points.
