PSX continues record-breaking rallies, KSE-100 crosses 113,000

The Pakistan stock exchange continues to rise, with the index surging by 2.1% to current index at 113,141.20 during intra day trading breaching the 113,000 point barrier for the first-time.

At 11:00 am, KSE-100 index rose by 2330.99 points (2.1%), up from the previous day's close of 110,810.21 points.

The market saw a positive turnaround, with the index reaching a high of 113,481.90 and a low of 111,308.65 during intra day.

The total trading volume stood at 247,329,636, reflecting robust market activity.

The total value of shares traded amounted to 20,115,800,092.

The market has demonstrated resilience with today's uptick, leaving investors hopeful for continued growth.

Earlier on Wednesday, the Pakistan Stock Exchange (PSX) saw a significant rebound, with the KSE-100 index rising by 1,913.57 points (1.76%) to close at 110,810.22, after a brief pause in trading.

The surge was driven by expectations of a policy rate cut due to a 4.9% inflation rate, the lowest in over six years.

Positive economic news, including a 62% increase in car sales and the recent cut in National Saving Schemes (NSS) rates, also fueled market optimism.

Top stocks like Mari Petroleum, Pakistan Petroleum, and Oil and Gas Development Company contributed significantly to the gains.

The market saw strong local institutional buying, with a total of 1.08 billion shares traded, valued at Rs47 billion.

Despite a slight decline in trading volume compared to Tuesday, the market maintained upward momentum, and investors remained optimistic about the upcoming Special Investment Facilitation Council (SIFC) meeting and continued economic growth.