The Pakistan Stock Exchange (PSX) continues its bullish momentum, with the benchmark KSE-100 Index surpassing the historic 90,000-point mark for the first time on Friday.
At 3:55 pm, the benchmark index stood at 90,156.34, reflecting an increase of 1,210.36 points or 1.36%. It reached a peak of 90,593.61, marking its highest intra-day level to date.
Investors showed strong buying interest in key sectors, particularly in index-heavy stocks from automobile assemblers, commercial banks, fertilizers, and oil and gas exploration companies. Major players like OGDC, PPL, SSGC, NBP, and MEBL were trading in the green, driving market optimism.
This uptrend is fueled by positive economic indicators and investor expectations of a possible policy rate cut by the State Bank of Pakistan (SBP) in its Monetary Policy Committee (MPC) meeting on November 4, 2024.
On Thursday, the PSX also saw significant gains, with the KSE-100 Index hitting a previous high at 88,945.99 points after a rise of 1,751.45 points or 2.01%. Local investors and institutional support contributed to the surge, reflecting robust confidence in the market’s future outlook.
