The Pakistan Stock Exchange (PSX) on Monday started the week on a positive note owing to improving investor sentiment and a macroeconomic backdrop supportive for bulls, reported 24NewsHD TV channel.
The PSX benchmark KSE-100 Index gained 3,907.82 points, or 3.39%, to reach an intraday high of 115,263.82.
On Friday, the PSX had shown signs of recovery after two consecutive days of decline, closing at 111,351 points, up by 0.84%.
Despite the gains, the average daily traded volume and value for the week had dropped significantly, with 796 million shares (down by 31% WoW) traded at a total value of PKR 43 billion ($155 million), a decline of 25% WoW.
Out of 443 companies that transacted their shares on Monday, 223 recorded gains, 176 faced losses, and 44 remained unchanged.
Market analysts attributed the bullish trend to a favourable low-interest rate environment and limited alternative investment opportunities, which continued to attract investor interest.
Additionally, in a recent T-bill auction, the government raised PKR 913 billion against a target of PKR 1,200 billion, with participation totalling PKR 1,694 billion. Analysts noted that the weekly SPI increased by 0.8% WoW, the highest rise in 25 weeks.
Reporter: Ayaz Rana