Pakistan Stock Exchange surges above 114,000 mark on strong investor sentiment

The Pakistan Stock Exchange (PSX) experienced a significant rally on Monday, marking a strong start to the new business week as the market surged past the 114,000-point threshold. During intraday trading, the benchmark KSE-100 index soared by 2,700 points, crossing the key 114,000 mark.

Market experts attribute this surge to several positive factors, including a recent cut in the policy rate and a substantial influx of capital from banks. Reports indicate that local mutual funds, primarily driven by banks, have injected approximately Rs58 billion into the market, which has greatly boosted investor confidence and sparked a wave of optimism among market participants.

The PSX had witnessed volatility the previous week, closing at 111,351 points after gaining 927 points on Friday. However, Monday’s sharp gains indicate a reversal in investor sentiment, with strong buying activity driving the market higher.

A total of 815,920,043 shares were traded during the day, with their value standing at Rs32.917 billion. Out of the 443 companies that transacted shares, 223 recorded gains, 176 sustained losses, and 44 companies saw no change in their share prices.