Pakistan Stock Exchange Reaches New Milestone as KSE-100 Surges Past 85,000 Points
During the trading session, the benchmark index experienced a notable rise. By 12:21 PM, it had climbed 712.77 points, or 0.85%, reaching 84,244.72 points, up from its previous close of 83,531.95 points. By the end of the day, the index closed at 84,910.29 points, marking an impressive gain of 1,378.34 points, or 1.65%, from the prior close.
Surge in Investor Confidence
The significant rise in the benchmark KSE-100 index reflects strong investor confidence and positive market sentiment. Last week, the index surged by 2,239.83 points on a week-on-week basis, crossing the key psychological threshold of 83,000 for the first time. It closed at an all-time high of 83,531.96 points, further boosting market optimism.
Subdued Trading Activity
Despite the positive momentum in the market, trading activity was somewhat muted. The average daily trading volume on the ready counter fell by 12.1%, with 343.89 million shares traded compared to the previous week’s average of 391.07 million shares. Additionally, the average daily traded value saw a slight decline of 1.3%, decreasing from Rs 16.94 billion to Rs 16.72 billion.
Foreign Investor Activity and Market Capitalization
Foreign investors remained net sellers, withdrawing $26.059 million from the local equity market. Despite this, the overall market capitalization grew by Rs 226 billion, reaching a total of Rs 10.879 trillion. An analyst at AKD Securities attributed the market’s bullish momentum to expectations of declining interest rates and the anticipated approval of the IMF’s Extended Fund Facility (EFF).
