PSX hits new historic high
The benchmark KSE100 index finished by a remarkable 2,203 points, or 1.64 percent, to finish at a record 136,502.54 points as compared to the Friday's closing 134,299.77 points. Earlier in the session, the index had touched an intraday peak of 136,842 points, and a low of 134,937 points reflecting an exceptionally bullish mood in the market.
BRIndex100 gained 224.38 points or 1.65 percent to close at 13,855.21 with a total volume of 603.15 million shares, while BRIndex30 increased by 337.2 points or 0.85 percent to settle at 40,188.19 with a total volume of 270.13 million shares.
According to Topline Securities' sales desk, the rally was led by aggressive buying from local mutual funds and institutions. Much of the upward thrust came from the banking sector, where heavyweights United Bank Limited, Habib Bank Limited, Fauji Fertilizer Company, Bank AL Habib, and MCB Bank collectively added 1,443 points to the index. This sector-wide surge was fueled by positive earnings expectations and investor optimism over stable policy direction.
Trading activity remained vibrant throughout the session. The ready market recorded a turnover of 841 million shares, compared to 765 million shares in the prior session. The total traded value stood at Rs 37 billion, slightly lower than the Rs 40 billion recorded on Friday.
Crescent Star Insurance led the volumes chart with 47.2 million shares and closed at Rs 4.34 followed by K-Electric with 43 million shares and First Dawood Properties with a volume of 35 million shares. Both finished at Rs 5.33 and Rs 5.55 respectively.
Market capitalization expanded sharply during the session, increasing from Rs 16.29 Trillion rupees in the previous session to Rs 16.49 Trillion rupees by the close, an impressive addition of over Rs 205 Billion in a single trading day.
Among individual gainers, PIA Holding Company LimitedB shares spiked by Rs 2,615 to close at Rs 28,768, while S.S. Oil Mills gained Rs 92 to end at Rs 1,010. On the losing side, Ismail Industries fell by Rs 110 to Rs 2,020, and Unilever Pakistan Foods dropped Rs 80 to settle at Rs 23,336.
Overall, the session witnessed strong breadth with 264 stocks closing in the green, 195 declining, and 16 remaining unchanged out of a total of 475 companies traded in the ready market.
The BR Automobile Assembler Index closed at 22,743.17 points, rising by 315.34 points or 1.41 percent, with a total turnover of 12.27 million shares. The BR Cement Index settled at 10,777.76 points, down by 62.97 points or 0.58 percent, with a total turnover of 37.90 million shares.
The BR Commercial Banks Index ended at 40,475.13 points, advancing by 1,549.34 points or 3.98 percent, with a total turnover of 104.91 million shares. The BR Power Generation and Distribution Index surged by 404.13 points or 1.9 percent to close at 21,634.93 points, with a total turnover of 57.92 million shares.
The BR Oil and Gas Index declined by 45.18 points or 0.37 percent, ending the session at 12,183.85 points, with a total turnover of 39.74 million shares. Meanwhile, the BR Technology & Communication Index recorded a gain of 10.06 points or 0.33 percent, settling at 3,056.62 points, with a total turnover of 62.93 million shares.
Muhammad Hasan Ather of JS Global noted that the KSE-100 Index rally was supported by strong investor confidence driven by favorable macro indicators, record remittances, and widespread gains in key sectors such as banking and cement. Ather further added that continued government support and solid earnings expectations played a key role in strengthening market sentiment.
While the upward trajectory is likely to persist in the near term, he cautioned that selective profit-taking may occur as the market approaches overbought territory.
Copyright Business Recorder, 2025
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The federal budget of 2025-26 has given a negative signal on the priority to be attached to shelter. The mark-up subsidy of over Rs 21 billion in 2024-25 has been completely withdrawn for 2025-26 for the Mera Pakistan Mera Ghar Scheme. Instead, a small allocation has been made for a subsidy of Rs 5 billion only to low-cost housing. This change in priority comes at a time when the access to shelter has become more and more difficult for low-income households in Pakistan. Households in the bottom quintile devote almost 20 percent of their income as expenditure on housing. This cuts into other expenditure, including on food, as accommodation is a fundamental requirement for any family. There is a big divergence between sources on the estimated number of homeless households in Pakistan. According to the Population and Housing Census of 2023 there are 200,000 homeless households. This implies a homeless population of almost 1.3 million people. However, according to the World Population Review, the estimated homeless population in Pakistan is as high as 8 million. This is in comparison to the number in Bangladesh of 5 million. Beyond the homeless there are also a large number of low-income households who are living in sub-standard shelter and/or in very limited living space. According to the Population and Housing Census of 2023, there are as many as 12.4 million housing units out of the total number of 38.3 million units, which are of low quality, with Katcha or Semi-Pucca construction. The Census also highlights that there are as many as 12.1 million housing units with only one room. The high density is demonstrated by the fact that as many as 5.6 million of these units with only room have four or more persons living in that one room. The inequality in access to housing is even more pronounced than the distribution of income. There are 13.8 million housing units with three or more rooms and only four or fewer persons living in 7 million of these units. There is also a limited access to basic services. The coverage of electricity is fortunately high and 92 percent of the housing units have an electricity connection. However, the access to gas is limited to only 38 percent of the households and tap water is available in only 31 percent of the housing units in urban areas. A key indicator of housing affordability is the residential status of households. While 82 percent of the housing units are owner-occupied, there are still 6.9 million housing units which are rented. The proportion of rented housing units has been rising over the years, given the limited access to housing finance of low- and middle-income households. The rate of build-up of the housing stock has varied substantially. Only 1.9 percent of housing units are under construction. 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