Bulls continued to dominate the trade floor on Tuesday as share prices at the Pakistan Stock Exchange (PSX) gained 1,055.54 points or 1.01 percent to reach 104,330.48 points marking a new record, reported 24NewsHD TV channel.
During the intra-day trading, investors showed keen interest to purchase low-price shares and in first two hours of early trading the shares volume surpassed 1 billion mark and the trend continued after the noon.
An economic expert Waleed Ahmad said that the ongoing robust rally reflects the impact of stabilising macroeconomic indicators and expectations of further monetary easing.
The day’s trading began on a ceremonial note as Federal Minister for Planning Ahsan Iqbal rang the traditional gong to commence trading at the PSX.
During the event, Ahsan Iqbal highlighted the government’s commitment to economic stability and long-term growth. “Crossing the 100,000 mark in the 100-Index showcases Pakistan’s potential to the world,” he said.
“Inflation has dropped from 38% to below 5% in two years, and the stock market has soared from 30,000 to 100,000 points,” he noted, highlighting the PSX as one of the most successful markets globally.
PSX Chairperson Dr Shamshad Akhtar highlighted the significance of Pakistan’s robust capital market and its recent achievements.
“Crossing 100,000 points last week has brought renewed enthusiasm to the market,” she said, adding that the PSX’s ability to finance long-term developmental projects makes it a critical asset for Pakistan’s economic future.
Monday’s session set the tone for today’s rally, with the KSE-100 gaining 1,917.62 points to close at a record 103,274.94.
Sectors like banking, technology, and oil and gas exploration led the gains last, with banking stocks benefitting significantly from recent regulatory changes, such as the removal of the Minimum Deposit Rate (MDR) requirement for corporate deposits.
Reporter: Ayaz Rana