The Pakistan Stock Exchange (PSX) started the week with a strong performance, as the KSE-100 index briefly surpassed 115,900 points, marking a historic high. The market opened with a surge of around 1,700 points, reaching 116,015.28 points during intra-day trading, before fluctuating to a 1.25% increase, ending at 115,900 points.
This growth follows weeks of consistent gains, cementing the PSX’s position as one of the region’s best-performing markets. Last week, the KSE-100 index also reached a record high of 114,302 points, driven by a 4.8% increase, and daily traded values surged to Rs60 billion, contributing to a year-to-date return of 83%.
Also Read: PSX Continues Record-Breaking Rally as KSE-100 Crosses 113,000
Investor optimism is fueled by expectations of an interest rate cut in the upcoming monetary policy meeting and positive economic indicators, including a 29% year-on-year rise in remittances to $2.9 billion in November. Additionally, declining T-bill yields, higher auto sales, and stronger banking sector performance supported the market.
The oil and gas exploration, fertilizer, and technology sectors saw significant gains, with companies like Mari Petroleum and Fauji Fertilizer Company (FFC) leading the charge. Despite foreign outflows of $0.9 million, local buying helped sustain the market’s momentum. Pakistan remained the world’s top-performing market in terms of US dollar returns for the second consecutive week.
