Record-breaking rally continues at PSX

(Web Desk): The Pakistan Stock Exchange (PSX) continues to break records in August, with a strong bullish trend observed on the third trading day of the business week.

Today, the PSX witnessed significant upward momentum, with the benchmark KSE-100 Index surging over 650 points to reach a historic all-time high of 150,400 points.

Investor confidence appears to be returning to the market, driven by improvements in economic indicators, hopes for political stability, and a positive reaction to the country's financial policies. This bullish trend not only reactivated investors but also led to a substantial increase in trading volume.

According to market experts, this record level of the stock exchange is a positive signal for the national economy, though they caution that upcoming economic decisions and global financial trends may influence the market’s pace.

It is worth noting that just yesterday, on the second day of the trading week, the KSE-100 Index crossed the 150,000-point mark for the first time in history.

At the start of that day, robust buying by investors pushed the index up by 2,127 points, taking it to 150,323. However, due to some profit-taking later in the day, the index closed at 149,000 points.

During the session, over 800 million shares of 482 companies were traded, with the total trading volume exceeding Rs48 billion. Notably, in July 2023, the KSE-100 Index was at 40,000 points, which has now surpassed 150,000 within two years.

The banking sector led the trading activity, while the fertilizer, oil & gas, and cement sectors also performed prominently.