The Pakistan Stock Exchange (PSX) continued its upward trajectory, with the KSE-100 Index crossing the historic 90,000-point mark for the first time on Friday.
KSE-100 Index:
- By 3:55 pm, the index stood at 90,156.34, showing an increase of 1,210.36 points or 1.36%.
- It peaked at 90,593.61, marking its highest intra-day level to date.
Investors showed significant interest in key sectors, especially stocks from automobile manufacturers, commercial banks, fertilizers, and oil and gas exploration companies. Major stocks like OGDC, PPL, SSGC, NBP, and MEBL were all in the green, boosting overall market optimism.
This positive trend is driven by favorable economic indicators and investor expectations of a possible policy rate cut by the State Bank of Pakistan (SBP) during its Monetary Policy Committee (MPC) meeting on November 4, 2024.
On Thursday, the PSX also experienced substantial growth, with the KSE-100 Index reaching a previous high of 88,945.99 points after rising by 1,751.45 points or 2.01%. Local investors and institutional support contributed to the surge, reflecting strong confidence in the market’s future outlook.
