PSX Maintains Bullish Momentum on IMF Review, Ratings
The Pakistan Stock Exchange (PSX) is set to sustain its upward momentum, fueled by the successful completion of the IMF’s second review under the $7 billion Extended Fund Facility, minimal impact from floods, and upgraded credit ratings, according to AKD Securities’ latest weekly report.
The background of this rally lies in growing investor confidence, especially after the recent meeting between the Prime Minister and the US President, coupled with easing yields and improved foreign investment prospects.
During the week, the KSE-100 Index surged by 6,733 points (4.1% WoW), closing at a historic high of 168,990 points, despite trading volumes dropping 19.8% WoW. Sectoral performance and foreign inflows highlighted the positive outlook, with commercial banks, fertilizer, and refinery stocks leading the charge.
| Key Market Highlights (Sep 2025) | Details |
| KSE-100 Weekly Gain | +6,733 points (4.1% WoW) |
| Closing Level | 168,990 points (all-time high) |
| Avg. Daily Volume | 1.8 bn shares (↓19.8% WoW) |
| Inflation (YoY) | 5.6% – highest in 10 months |
| Trade Deficit | $3.3 bn vs $2.3 bn LY |
| PKR vs USD | 281.26 (↑0.04% WoW) |
| Cement Offtakes | 4.25 mn tons (↑7% YoY) |
| OMC Sales | 1.4 mn tons (↑8% YoY) |
Top Gainers (WoW): BOP (+24.9%), SAZEW (+15.1%), FABL (+13.9%), YOUW (+13.5%), FATIMA (+13.4%).
Top Losers (WoW): HUMNL (-11.5%), NPL (-10.6%), RMPL (-6.6%), MTL (-6.4%), PIOC (-5.7%).
On the flows side, Mutual Funds (+$47.9m) and Individuals (+$34.3m) were net buyers, while Insurance (-$30.3m) and Banks/DFIs (-$19.2m) were net sellers.
AKD Securities noted:
“We foresee the momentum in the KSE-100 to continue given smooth IMF review, minimal flood impact, improved credit ratings, and expectations of foreign inflows.”
This outlook, supported by strong US and Saudi ties and attractive equity valuations, suggests PSX will likely remain bullish in the near term.