Pakistan stocks surge to record high amid bullish momentum

Pakistan stock market's bullish trend persisted as the benchmark index climbed to an all-time high of 117,974 points, marking its fifth consecutive session of gains. The surge was led by strong performances in the oil and gas, power, and fertilizer sectors.

Market analysts attributed the rally to significant developments, including progress toward resolving the circular debt and anticipated approval of the International Monetary Fund (IMF) program.

“The continuation of bullish activities is primarily due to these positive signals,” said an analyst at JS Global.

According to an analyst at Topline Securities, the upward momentum was driven by robust buying from local institutional investors.

Key contributors to the rally included Hub Power Company (Hubco), Mari Petroleum, Engro Corporation, Systems Limited, and Pakistan Petroleum Limited, collectively adding 551 points to the index.

KSE-100 index gained 0.83% or 972.94 points to close at 117,974.03 points.

Currency

US dollar eased against PKR in the inter-bank market. Pakistani currency gained 6 paisas to close at 280.21. In the open market USD was trading at PKR 282.

Indian Stocks

Indian stock markets went up for the third day in a row on Wednesday. Positive feelings in the market were boosted by mixed global trends and new hope for a possible Russia-Ukraine peace deal.

Foreign investors bought stocks on Tuesday, marking their first purchase this March and only the fourth time in 2025, according to early data.

BSE-100 index gained 1.67% or 390.94 points to close at 23,845.74 points.

DFM General Index shed 0.52% or 26.87 points to close at 5,122.26 points.

Crude Oil

Oil prices fell on Wednesday after Russia agreed to a 30-day pause in attacks on energy infrastructure, following a proposal from U.S. President Donald Trump. This ceasefire between Moscow and Kyiv could allow more Russian oil to reach global markets.

Russia, a major oil supplier, has seen its oil production drop since the war began due to sanctions. If the ceasefire leads to reduced sanctions, oil supply might increase, causing prices to drop further.

Brent crude prices decreased by 0.69% to $70.07 per barrel.

Gold Prices

Gold prices went up on Wednesday, nearing a record high. This happened because tensions in the Middle East and trade uncertainties made gold more attractive to investors.

Traders were also waiting for the Federal Reserve's decision later in the day. Many investors are concerned about a slowing economy and the increased chances of a recession.

These worries are partly due to tariffs imposed by U.S. President Donald Trump, which are expected to increase inflation.

International gold prices declined 0.08% to close at $ 3,030.33 per ounce. In the local market, gold prices stand at PKR 319,000.