Pakistan Stock Exchange (PSX) closed at a new all-time high on Monday, as strong buying momentum followed reports of a billion-dollar UAE investment linked to a potential strategic stake acquisition in the Fauji Group. The news boosted investor confidence and pushed the benchmark index sharply higher by the end of the session.
Market sentiment has remained positive in recent weeks amid improving macro indicators and expectations of foreign inflows. The latest reports suggesting a UAE entity’s interest in Fauji Group further strengthened confidence, with expectations that around $1 billion in liabilities could be settled, while the remaining $2 billion loan may be rolled over, easing short-term financial pressure.
Fueled by this optimism, the benchmark index surged to an intraday high of 2,010 points before settling at 173,896, up 1,495 points or 0.86% for the day. Heavyweight stocks including FFC, UBL, PTC, EFERT, and SYS played a major role in the rally, together contributing 957 points to the index.
An equity analyst noted,
“The prospect of large-scale foreign investment has reignited bullish sentiment and reinforced confidence in fundamentally strong stocks.”
Market participation remained strong, with 855 million shares traded and total turnover reaching Rs. 42.8 billion. WorldCall Telecom (WTL) topped the volume chart, with over 52.8 million shares exchanged during the session, reflecting heightened speculative and retail interest.
The strong close at a record level signals sustained bullish momentum at PSX. Analysts believe continued foreign investment news and financial stability measures could keep equities attractive in the near term.