The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday, crossing the 138,000-point mark for the first time. The KSE-100 index surged by 1,753 points, reaching an all-time high of 138,133 points during trading hours, marking an unprecedented rally in the market.
Earlier, the PSX had seen an intra-day high of 137,747 points on July 15, but today’s performance shattered that record with strong investor participation. The bullish momentum was primarily driven by significant buying in key sectors like energy, oil, fertilizers, and pharmaceuticals, lifting overall market sentiment. Trading began with an increase of 300 points, and the market continued to gain momentum, surpassing the psychological 137,000-point barrier early in the session.
Throughout the day, the PSX achieved multiple milestones, starting with a 666-point gain shortly after the session opened. This was followed by an increase of 1,072 points, pushing the index to 137,452 points. A further rise of 1,475 points brought the index to 137,855 points before it made its final leap, closing at a record 138,133 points.
Market analysts attribute the surge to investor optimism surrounding the upcoming monetary policy, with an expected interest rate cut in the policy announcement scheduled for July 28. However, some caution remains due to the US dollar hitting a 20-month high, which could influence market dynamics in the coming weeks.
Today’s performance comes after three range-bound sessions, with investors capitalizing on favorable market signals and sectoral gains. This marks a historic day for the PSX and Pakistan’s capital markets, reflecting strong growth and investor confidence.
In other news, gold prices recover slightly as CPI data boosts the dollar and raises inflation concerns
