The Pakistan Stock Exchange (PSX) has continued its bullish trend, with the benchmark KSE-100 Index crossing the historic 90,000-point milestone for the first time on Friday.
As of 3:55 pm, the KSE-100 Index stood at 90,156.34, marking an increase of 1,210.36 points, or 1.36%. The index reached an intraday high of 90,593.61, setting a new record for the highest level attained during a single trading day.
Investor sentiment remained strong, with key sectors witnessing robust buying activity. Stocks from automobile assemblers, commercial banks, fertilizers, and oil and gas exploration companies saw substantial gains, with major players such as OGDC, PPL, SSGC, NBP, and MEBL all trading in the green. This momentum was fueled by positive economic indicators and growing expectations that the State Bank of Pakistan (SBP) might announce a policy rate cut during its upcoming Monetary Policy Committee (MPC) meeting on November 4, 2024.
The PSX had also seen substantial gains on Thursday, with the KSE-100 Index reaching 88,945.99 points after a rise of 1,751.45 points, or 2.01%. Local investors and institutional support played a key role in driving the market, reflecting strong confidence in the outlook for Pakistan’s financial markets.
