PSX sustains momentum, KSE-100 crosses 149,000 milestone

Index hit high 149,367.31, low 148,293.94 during intra-day during

The Pakistan Stock Exchange (PSX) remained unstoppable on Tuesday as the KSE-100 index crossed 149,000 points in intra-day trading, setting a new milestone in its record-breaking rally.

KSE-100 index rising 1,006.96 points to reach the current index of 149,203.38 during intra-day trading as compared to the previous close of 148,196.42.

During today's session, the index has hit a high of 149,367.31 points and a low of 148,293.94 points so far.

Trading volume stood at 105.68 million shares, while the value of transactions reached Rs10.77 billion.

The market registered a 0.68% increase, reflecting continued investor confidence.

Earlier on Monday, the KSE-100 index recorded an increase of 1,704.79 points, or 1.16%, and settled at 148,196.42.

According to Topline Securities, bulls staged a strong comeback in Monday's trading session, with the KSE-100 index surging 1,904 points intra-day before closing at an all-time high of 148,196, up 1,705 points.

Market sentiment brightened on reports of the government's circular debt reform drive, which entails reducing liquefied natural gas (LNG) cargoes, revising RLNG pricing and mobilising funds from savings through LNG diversion, state-owned enterprises' dividends and power sector receivables, it said.

Fitch expects lower interest rates, better credit growth and reduced reliance on public-sector lending to benefit banks

JS Global analyst Muhammad Hasan Ather said that the KSE-100 index surged 1.2% to close at a record high, driven by strong corporate earnings, improved macroeconomic indicators and expectations of favourable inflation data.

WorldCall Telecom was the volume leader with trading in 40.7 million shares, falling Rs0.01 to close at Rs1.40. It was followed by Pervez Ahmed Consultancy with 29.8 million shares, gaining Rs0.18 to close at Rs2.82 and Al-Shaheer Corporation with 26.4 million shares, gaining Rs0.52 to close at Rs12.24.

Foreign investors sold shares worth Rs625 million, the National Clearing Company reported.