The Pakistan Stock Exchange (PSX) reached a new milestone on Tuesday, with the benchmark KSE-100 Index rising nearly 1,300 points to close above the 104,000 mark, setting an all-time high.
The index finished at 104,559.07, up by 1,284.13 points or 1.24%. Key sectors driving the growth included automobile manufacturers, fertilizer companies, oil and gas firms, OMCs, and the refinery sector. Major stocks such as HUBCO, PSO, SSGC, MARI, OGDC, FFC, ENGRO, MCB, and NBP saw positive trading.
Market experts believe that the stock market’s upward momentum is fueled by expectations of a rate cut by the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC), following the release of the latest inflation figures. November’s CPI inflation in Pakistan dropped to 4.9%, the lowest since May 2018, raising hopes for further policy rate reductions.
The trading value in the ready market reached Rs57 billion ($203 million), the highest in 18 years. This surge reflects continued investor confidence amid improving macroeconomic stability and falling yields on fixed-income investments.
The global market also saw positive movement, with Asian stocks climbing, led by a strong tech sector performance following record highs in the U.S. markets. Meanwhile, the dollar weakened as traders evaluated interest rate outlooks for the U.S. and Japan.
