KSE-100 Nears Record Amid Strong Sector Demand
The Pakistan Stock Exchange (PSX) began the week on a bullish note, with the benchmark KSE-100 Index advancing more than 500 points in early trade on Monday.
By 10:25am, the index was recorded at 158,570.89, reflecting an increase of 533.52 points or 0.34%.
Strong buying was seen across key sectors including automobiles, cement, banks, oil and gas exploration, refineries, and power generation. Market leaders such as HUBCO, MARI, OGDC, POL, MCB, and NBP all traded in the positive zone.
Investor confidence has strengthened ahead of the International Monetary Fund’s (IMF) upcoming visit on September 25 for the second semi-annual review of the $7-billion Extended Fund Facility.
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Analysts expect Pakistan to meet all seven performance criteria for the March and June quarters, covering international reserves and swap positions.
The market’s upward drive follows a strong performance last week, when the KSE-100 surged 3,597 points, or 2.3%, to close at 158,037.
The index even touched 159,337 during the week, marking one of the most robust rallies of the year.
Globally, Asian shares inched higher on Monday, supported by a recent US Federal Reserve rate cut. However, sentiment in India turned negative after Washington imposed a $100,000 fee on H-1B worker visas, a measure seen as a blow to its $283 billion technology industry.
