Faraz Saeed

LAHORE: The Pakistan Stock Exchange (PSX) closed the week on a record-breaking note Friday, with the benchmark KSE-100 Index settling at an all-time high of 162,257 points, buoyed by improved sentiment following Prime Minister Shehbaz Sharif&rsquo;s meeting with US President Donald Trump.&nbsp;The market rallied strongly throughout the session, gaining nearly 3,000 points compared to Thursday&rsquo;s close of 159,280. Buying interest was broad-based, led by stocks in cement, commercial banks, oil and gas exploration companies, OMCs, power, and refineries.&nbsp;The positive momentum continued after PM Sharif&rsquo;s early Friday meeting with Trump at the White House, where he was accompanied by Pakistan&#39;s army chief, Field Marshal Syed Asim Munir. The Prime Minister thanked Trump for a tariff arrangement concluded earlier this year and invited US firms to invest in Pakistan&rsquo;s agriculture, IT, minerals, and energy sectors.&nbsp;&ldquo;Improved external and fiscal balances under the IMF programme have provided much-needed confidence in macro stability,&rdquo; Waqas Ghani, Head of Research at JS Global, told Pakistan TV Digital. &ldquo;Corporate earnings prospects remain upbeat, particularly in cyclicals, and liquidity continues to drive momentum.&rdquo;&nbsp;Irfan Saeed, Regional Head at Munir Khanani Securities, said the record close reflects &ldquo;a convergence of strong fundamentals, upbeat corporate earnings, and fresh optimism after the Trump&ndash;Sharif meeting.&rdquo; He noted that expectations of investment from the Middle East, particularly in oil, gas, and minerals, have further strengthened sentiment.&nbsp;He added that the oil and gas sector has been pivotal in driving the rally, with the recent settlement of circular debt injecting liquidity and boosting investor confidence.&nbsp;The week&rsquo;s performance cements PSX&rsquo;s position among the best-performing regional markets, with analysts expecting the bullish trend to continue in the near term.

Economy

The PSX closed the week at a record 162,257 points, soaring after the Donald Trump, Shehbaz Sharif meeting in Washington boosted sentiment. Analysts credit IMF-backed stability, strong liquidity, and Middle East investment hopes for driving the rally.

Articles tagged with "Pakistan Stock Exchange"

Pakistani stock market ends week at record high after Trump-Sharif meeting