At the start of the business week, the Pakistan Stock Exchange (PSX) saw a positive surge, with the index rising by 1,169.94 points (1.07%) to reach 110,223.89 during intra-day trading. By 11:50 AM, the KSE-100 Index reached a high of 110,248.98 and a low of 107,625.91, with a total of 258.86 million shares traded, valued at Rs 19.37 billion. The positive momentum reflects investor optimism.
The previous week was stellar for PSX, with the KSE-100 index closing at a record 109,054 points, gaining 7.6%. This rally was fueled by favorable macroeconomic indicators such as a drop in inflation to 4.9%, the extension of Saudi Arabia’s $3 billion deposit, and key economic contracts. Key sectors like fertilizers, banking, oil and gas, and cement led the gains despite foreign selling of $12.2 million. With trading volumes up by 72% week-on-week, the KSE-100 became the world’s best-performing market in US dollar terms. Analysts expect the positive trend to continue, bolstered by speculation of a policy rate cut.
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Other notable developments include the government’s Rs353 billion Ijarah Sukuk auction, increased petroleum sales, and higher cement dispatches. Despite continued foreign selling, local buying, especially in stocks like Mari Petroleum, Engro Corp, and UBL, drove the market’s strong performance, with further growth expected due to improving inflation and foreign investment support.
