The Pakistan Stock Exchange (PSX) showed strong gains on Monday as the KSE-100 index rose by 1,353 points. The index closed just below the 150,000 mark at 149,971 points. Investors remained optimistic throughout the session, pushing the market to an intra-day high of 150,066 points. This rise reflects positive investor sentiment in key sectors like cement and oil exploration.
The recent drop in inflation also boosted market confidence. The Pakistan Bureau of Statistics reported that inflation eased from 4.1% in July to 3% in August. This decline was mainly due to lower food and electricity prices. Brokerage firms expect the KSE-100 index to keep rising and possibly reach 151,200 points by the end of the week.
Market activity showed mixed results with 67 shares gaining and 32 losing value. Major winners included Lucky Cement, which rose 4.24%, Oil and Gas Development Company, up 2.27%, and Fauji Cement with a 7.39% gain. On the other hand, shares like Fauji Fertiliser, Systems Limited, and Pakgen Power declined during the session.
Corporate earnings news also contributed to the positive mood. Sazgar Engineering announced a strong financial year, with earnings per share rising 106% year-on-year to Rs131.29. The company declared dividends of Rs52 per share. Its quarterly earnings remained steady, reinforcing confidence among investors.
Trading volumes dipped slightly to 1.2 billion shares, down from 1.3 billion the previous day. A total of 480 companies were active in trading, with 272 advancing, 175 declining, and 33 unchanged. The Bank of Punjab led in volume, trading nearly 98 million shares and closing higher at Rs16.58. Overall, the market reflected renewed investor confidence fueled by easing inflation and solid corporate results.