Karachi, June 10, 2025: Stocks climbed on Tuesday as the Pakistan Stock Exchange (PSX) reopened following the Eid ul Adha holidays. Investor sentiment was buoyed by optimism over the upcoming federal budget and the encouraging figures shared in the Economic Survey 2024–25.
The benchmark KSE-100 Index closed at 122,024.44, gaining 383.44 points or 0.32% from the previous close of 121,641.00. During the session, the index hit an intraday high of 122,611.53, up 970.53 points or 0.80%, before retreating to a low of 121,589.90, a slight dip of 51.10 points or 0.04%.
“Stocks reached all-time highs led by blue-chip scrips as investors weigh a record Rs17.6 trillion budget outlay, including Rs800 billion approved for the Public Sector Development Programme (PSDP),” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.
He added that surging global crude oil prices, proposed measures to address the Rs2 trillion gas circular debt, and expectations of rationalization in industrial power tariffs helped fuel the market’s bullish momentum.
The optimism was further supported by Monday’s release of the Economic Survey 2024–25, in which Finance Minister Muhammad Aurangzeb reported that Pakistan’s economy grew by 2.7% in the outgoing fiscal year — below the 3.6% target but supported by improving indicators. Inflation eased to 4.6%, exports rose by 7%, and IT exports reached $2.8 billion, including $400 million in earnings from freelancers.
The survey also highlighted a current account surplus of $1.9 billion (July–April), a 26% rise in revenue collection, and a $10 billion increase in remittances over two years.
The federal budget for 2025–26, with a proposed outlay of Rs17.6 trillion, is set to be tabled in Parliament later today. The Federal Board of Revenue (FBR) has been tasked with collecting Rs14.02 trillion in taxes — up from revised estimates of Rs12.33 trillion for FY25.
“Positive news flow regarding the budget is driving the market,” said Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company. “This includes expected cuts in corporate tax rates, a reduction in super tax, enforcement actions against non-filers, and the continuation of the IMF programme.”
According to the Economic Survey, the KSE-100 Index surged 50.2% over the fiscal year, backed by macroeconomic stability, falling interest rates, strong corporate earnings, and a successful IMF review. The PSX also outperformed several global indices, with six new company listings, bringing the total to 527 as of March 2025.
The market’s previous session, held before the Eid holidays, had ended with the index down 157.86 points or -0.13%.
