Bulls Drive PSX to New Heights

Ali
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Ali
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Investors in Pakistan celebrated a historic moment on Tuesday as the KSE-100 Index of the Pakistan Stock Exchange (PSX) recorded its highest-ever closing at 143,037 points. The sharp rally was driven by improved market sentiment and favourable economic indicators.

The index added 1,222 points during intraday trade, reaching an all-time high of 143,281, before ending the day with a 984-point increase. Market activity remained brisk, with trade volumes exceeding 550 million shares, amounting to Rs 37 billion in value.

This marks the second straight day of gains, following Monday’s 1,017-point surge. Analysts credited the upward trend to progress in Pak-US relations, optimism over corporate profits, and growing macroeconomic stability.

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Brokerage experts observed that both local and foreign investors showed interest in major sectors. The most active stocks were seen in banking, automobiles, cement, fertiliser, oil marketing, and gas.

Regional stock markets also performed well, supporting the upbeat environment. Asia’s MSCI index outside Japan gained 0.6%, while Japan’s Nikkei recovered by 0.5% after Monday’s dip.

Meanwhile, in the United States, markets rallied on expectations of a potential interest rate cut by the Federal Reserve in September. Tools tracking rate forecasts now suggest a 94% chance of a rate reduction, compared to 63% just a week earlier.

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