Market Confidence Soars with All-Time PSX Peak
The Pakistan Stock Exchange (PSX) reached a new milestone on Tuesday as the benchmark KSE-100 Index closed at a historic high of 143,037 points. The rally reflects growing investor confidence in the country’s economic outlook.
During intraday trading, the KSE-100 Index rose by over 1,200 points, touching a peak of 143,281 before settling slightly lower by the session’s close. This represents a gain of 984 points, or 0.69%, compared to the previous day.
Trading activity remained strong, with more than 550 million shares changing hands, valued at Rs 37 billion. The momentum carried over from Monday, when the index had already jumped by over 1,000 points.
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Market analysts linked the rally to several key developments, including improved diplomatic ties with the United States, encouraging macroeconomic data, and strong expectations for corporate earnings. They also pointed to global optimism in stock markets and growing chances of an interest rate cut in the US as contributing factors.
Sector-wise, heavy gains were recorded in commercial banking, auto assemblers, cement, fertiliser, oil marketing, and gas companies, with SNGPL and WAFI drawing notable attention.
Asian markets also saw gains on Tuesday, with MSCI’s Asia-Pacific index rising by 0.6%, and Japan’s Nikkei up by 0.5%, providing further encouragement for regional investors.
In the US, speculation about a possible interest rate cut by the Federal Reserve in September—now seen as a 94% probability—also supported the global risk-on sentiment.
