Daily Times

The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday, with the KSE-100 Index crossing 119,000 points for the first time. During intra-day trading, the index peaked at 119,421.81 points. The current index rose by 689.71 points, showing a 0.58% increase, reaching 118,663.73 points. This bullish trend reflects strong investor confidence and positive market sentiment.

The trading session saw a total trading volume of 268,125,313 shares, valued at approximately Rs20.2 billion. The lowest point recorded during the day was 118,525.00. The market remains open, and final numbers will be determined upon its close. Investors are optimistic, as the session continues to unfold positively.

Earlier this week, the PSX had already reached a high close to 118,000 points. This surge was driven by robust local institutional buying, supported by positivity around resolving the circular debt issue in the power sector. Expectations surrounding the IMF’s review of the $7 billion Extended Fund Facility also motivated buyers.

Key sectors, such as cement, banks, and oil and gas, saw substantial buying interest. This helped push the index to an intra-day high of 118,244. While some companies slightly hindered the index rise, overall, the trading volume increased significantly to 544.2 million shares. Analysts remain hopeful that this bullish momentum will continue, especially with ongoing discussions around the IMF review and circular debt management.