Bullish momentum accelerates as $2 billion Saudi inflow boosts sentiment, strengthens outlook for external stability
KARACHI:
The rally at the Pakistan Stock Exchange (PSX) gathered fresh momentum on Thursday, with bulls dominating from the opening bell and pushing the benchmark KSE-100 index sharply higher in early trade.
Within minutes of the session, the index surged by 2,306.29 points, or 1.27%, climbing to 170,826.23 by 9:34am. The upbeat tone seen in recent sessions carried forward, supported by strong investor confidence and improved liquidity conditions.
Market data showed a solid breadth of activity. The index hovered near its intra-day high of 170,899.16, well above the low of 168,941.31, while total traded volume crossed 244 million shares. The previous close stood at 168,519.94, highlighting the strength of the gap-up opening.
Read: $3b Saudi support fuels robust PSX rally
Driving the positive sentiment was a key development on the macro front. The State Bank of Pakistan confirmed receipt of $2 billion from the Ministry of Finance of the Saudi Arabia, with the value date of April 15, 2026.
The inflow is expected to bolster foreign exchange reserves and ease near-term external financing pressures, factors that typically act as strong triggers for equity market rallies.
The combination of improved macro stability signals and sustained investor optimism has kept the market firmly in bullish territory, with early trading suggesting that momentum could persist through the session if volumes remain supportive.