PSX Climbs to Near 99,000 Mark Amid Strong Gains by Commercial Banks
KARACHI – The Pakistan Stock Exchange (PSX) continued its upward trajectory, with the benchmark KSE-100 Index approaching the 99,000 mark, rising by 1,200 points during intra-day trading.
On the first working day of the week, the index initially opened in the red, reaching an intra-day low of 97,137.63. However, a surge in buying activity saw the index climb above 99,000, peaking at 99,317.47 before pulling back slightly.
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Commercial banks led the rally, posting significant gains, while the pharmaceutical and fertilizer sectors also contributed to the market’s positive performance. By the end of the session, the KSE-100 Index had gained 389.09 points, closing at 98,187.32, with the index fluctuating between a high of 99,317.47 and a low of 97,137.63. The trading volume stood at 144,322,912 shares.
Over the past year, the KSE-100 has surged by 66.70%, and has gained 51.85% year-to-date. Despite these robust gains, political tensions in the country, including the ongoing PTI long march, continue to weigh on market sentiment. PTI protesters are making their way to Islamabad, demanding the release of political prisoners, the repeal of the controversial 26th Constitutional Amendment, and the release of party founder Imran Khan.
