The Pakistan Stock Exchange (PSX) began the new year with a strong rally, as the benchmark KSE-100 Index soared by 2210.74 points on Monday.
The index, which tracks the performance of the top 100 companies listed on the PSX, settled at 64,661.78 points, or a rise of 3.54% from the previous close of 62,451.04 points.
The rally was driven by high demand for shares in the oil and gas sector, which saw some of the biggest gains. OGDC, PPL, PSO, and SNGP were among the top performers, with their share prices increasing by 5-7%.
Other sectors that contributed to the bullish trend were automobile assemblers, cement, chemical, and commercial banks.
The PSX had also ended 2023 on a positive note, as the KSE-100 Index closed at 62,451.04 points on Friday, an increase of 0.64% from the previous session.
The index had recorded a remarkable growth of nearly 55% in 2023, giving a return of nearly 24% to investors in US dollars.
