PSX scales new peak as KSE-100 crosses 110,000 mark

The benchmark KSE-100 index rose by 1,169.94 points compared to the previous session.

The Pakistan Stock Exchange (PSX) recorded a positive performance at the start of the business week, with the index rising by 1,169.94 points (1.07%).

The market's current index stood at 110,223.89 points during intra-day trading.

At 11;50 am, PSX marking an increase of 1,169.94 points from the previous session's closing of 109,053.95 points.

During the intra-day trading, the KSE-100 Index reached a high of 110,248.98 and a low of 107,625.91.

A total of 258,860,473 shares were traded, with a market value of Rs 19.37 billion.

The day's trading reflects an optimistic sentiment among investors, contributing to a positive outlook for the stock market.

Last week, the Pakistan Stock Exchange (PSX) had a stellar week, with the KSE-100 index closing at an all-time high of 109,054 points, marking a weekly gain of 7.6% (7,697 points).

Positive macroeconomic indicators, including a drop in inflation to 4.9%, the extension of Saudi Arabia's $3 billion deposit, and significant economic contracts, fueled the rally.

Key sectors such as fertiliser, banking, oil and gas, cement, and power generation contributed to the gains.

Despite foreign selling of $12.2 million, the market saw record trading volumes, with 1.68 billion shares traded on average, up 72% week-on-week.

The KSE-100 index became the world’s best-performing market in terms of US dollar return. Analysts expect continued positive momentum, with speculation of a policy rate cut in the upcoming meeting.

The week also saw significant developments, including the government's auction raising Rs353 billion via Ijarah Sukuk, high petroleum sales, and rising cement dispatches.

Foreign selling continued, but local buying supported the rally, with major contributors like Mari Petroleum, Engro Corp, and UBL leading the charge.

The market closed strong, with anticipation of further growth driven by improving inflation data and foreign investment support.