New year cheer lifts stocks to fresh peaks |
KARACHI: Despite falling exports and a widening trade deficit in the first half of FY26, the Pakistan Stock Exchange (PSX) sustained its record-setting rally during the final two sessions of the outgoing week, propelling the benchmark index close to an unprecedented level near 179,500 mark as investors continued value-hunting at the start of the new year.
According to Topline Securities Ltd, the year began on a strong footing, with the KSE-100 Index gaining about 4pc week-on-week, driven largely by buying from local mutual funds, as reflected in National Clearing Company data. Improved sentiment was underpinned by a softer inflation reading and expectations of further monetary easing.
Key macro developments during the week included December 2025 consumer inflation easing to 5.61pc year-on-year from 6.15pc in November. Meanwhile, the trade deficit for December widened to $3.7bn, up 24pc year-on-year and 28pc month-on-month, highlighting persistent pressure on the external account despite broader macro stabilisation.........