KARACHI: The Pakistan Stock Exchange (PSX) continued its bullish momentum on Monday, with the benchmark KSE-100 Index closing at a new high of 136,502.53, up by 2,202.77 points or 1.64%.
Investor optimism was evident throughout the trading session, driven by positive sentiment surrounding key sectors, including automobile assemblers, cement, commercial banks, and oil and gas exploration companies. The index reached an intraday high of 136,140.87 before closing just above the 136,500 mark.
The surge in the market was attributed to improved economic indicators, including record remittances and ongoing positive developments in the country’s fiscal and macroeconomic environment. Analysts also noted that the results season is underway, and market participants are closely watching corporate earnings reports for further direction.
Prime Minister Shehbaz Sharif welcomed the performance of the PSX, recognizing it as a reflection of growing business confidence in Pakistan’s economy. He further emphasized that the government’s policies were headed in the right direction, as evidenced by the positive market response.
This marks another milestone in the local equity market’s impressive performance, which has been bolstered by strong institutional participation, foreign inflows, and overall improvement in the business climate.
