The Pakistan Stock Exchange (PSX) made history on Monday, with the benchmark KSE-100 Index surging past 102,000 and 103,000 points simultaneously for the first time.
The KSE-100 Index closed at a historic high of 103,275 points, gaining an impressive 1,917 points during the session. During the trading session, the market also touched a high of 103,386 points with an increase of 2,029 points, driven by strong bullish sentiment and robust trading activity.
For the first time in a year, the PSX recorded a massive turnover of over 1.55 billion shares in a single day, with trades worth Rs47 billion. This marked a 70% increase in trading volume compared to the previous session on Friday.
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Earlier on Monday, the PSX saw a significant boost, with the benchmark KSE-100 Index rising by more than 1,800 points, marking a 1.78% increase. By 12:09pm, the index reached 103,195 points, up from 101,357 points at the close of the previous trading session.
The positive momentum comes as investors show optimism regarding the expected reduction in inflation for November, which has been a key factor in driving market sentiment. Experts believe that if inflation falls below 6%, it could set the stage for further monetary policy easing, which would likely benefit the stock market.
Ahsan Mehanti, CEO of Arif Habib Commodities, described the performance as a testament to the stock market's resilience and strength. “The bullish trend with such a large trading volume reflects investor confidence and market robustness,” he stated.
