The Pakistan Stock Exchange (PSX) experienced a positive trading session today, with the benchmark KSE-100 index climbing by 493.61 points to reach 103,768.55 points during intra-day trading. The market saw strong momentum, peaking at 104,361.24 points and hitting a low of 102,825.59 points.
The trading volume was robust, with 475.86 million shares traded, valued at Rs17.33 billion. Overall, market sentiment remained optimistic, contributing to the steady rise in the index throughout the day.
Also Read: PSX Reaches New Heights as KSE-100 Index Surpasses 102,000 Points
This session followed Monday’s impressive rally, where the KSE-100 surged by over 1,900 points due to positive economic data, including a favorable Consumer Price Index (CPI) report for November 2024. The CPI showed inflation easing to 4.9% year-on-year, which fueled investor expectations of a further interest rate cut by the State Bank of Pakistan (SBP). Combined with a global bull run in equities and increasing foreign exchange reserves, the market saw heightened investor interest and participation.
Yesterday, the KSE-100 closed at a record high of 103,275 points, with key sectors like cement, oil, and banking leading the charge. Companies such as Engro Corporation, Fauji Fertilizer, and Meezan Bank were among the top performers, adding a total of 617 points to the index. Cement stocks, in particular, saw gains of 4.7%, driven by expectations of higher dispatch numbers for November.
Analysts are optimistic about the continued bullish trend at the PSX, citing improving macroeconomic indicators and expectations of further monetary easing.
