PSX hits record high led by banking stocks

E-Paper | October 01, 2026

PSX hits record high led by banking stocks

Reuters Published August 12, 2016

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KARACHI: Pakistan stocks edged up to a fresh record closing high on Thursday, led by banking stocks, dealers said.

The benchmark 100-share index of the Pakistan Stock Exchange closed 0.14 per cent higher, or 55.72 points, at 39,861.60.

“Banking stocks performed on the day, which led the market to close at an all-time high,” said Hammad Aman, manager, equity sales at Topline Securities Pvt Ltd.

United Bank Ltd gained 3.90pc, Habib Bank Ltd increased by 0.35pc and Habib Metropolitan Bank Ltd rose 1.67pc.

The rupee ended stronger at 104.52/104.59 against the dollar, compared with Tuesday's close of 104.57/104.61.

Overnight rates in the money market fell to 5.85 percent from Tuesday's close of 5.90 percent.

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M. Malik

Aug 12, 2016 11:45am

Get ready for a big 'correction'.

Recommend 0

Akbar

Aug 12, 2016 11:48am

Great! Keep up the hard work!!!

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Babloo

Aug 12, 2016 01:06pm

Another artificial bubble by those unscrupulous big sharks taking advantage of inside trading .Soon this is going to burst . SECP never played its role to regulate PSX .

Recommend 0

Javed abbasi-USA

Aug 12, 2016 01:54pm

Good going Pakistan and good going PML N

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Zak

Aug 12, 2016 04:16pm

PSX will cross 40,000 barrier this year.

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Jahangir

Aug 12, 2016 04:26pm

Shows teh confidence of all investors is all time high. Great achievement by PML N

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Salaam Namaste

Aug 12, 2016 04:38pm

Rarely stock market news is reported

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m ashraf

Aug 12, 2016 05:05pm

PSX last year gave me the return of 5% but I am optimistic that this year profit will be near 15%.Stock business a little difficult in the beginning but I encourage all my educated country fellowsto invest in stocks for better return.

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Ahmad

Aug 12, 2016 06:18pm

@m ashraf Don't you think 5% after taking lot of risk is too less. we can get till 8% interest with FD from banks and these days FD are available starting from 7 days. I invested 10 Lakh for 1 year in FD and got 7.25% profit without any risk. We can always take risk if we have spare money but with this little money, I would suggest to invest in trusted source. I am from India so sorry if FD with same interests are not available in Pakistan but just a suggestion.

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m ashraf

Aug 12, 2016 07:58pm

@AHMAD your suggestion is very positive but the problem is, if we do not take risk and not invest in stock or property. The other option is only banks or saving schemes which give us very low and fixed return.

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AuK

Aug 12, 2016 10:30pm

My brother who works for UBL does more work in a day than NS or any of his cabinet does in a month. So all those getting giddy about PMLN, this performance has nothing to do with this government, and all to do with the hardworking and patriotic Pakistanis and their companies who are keeping Pakistan going.

Recommend 0

Aug 13, 2016 02:29am

This has nothing to do with how economy is progressing.....

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