KARACHI – Pakistan Stock Exchange (PSX) opened the week on a high note as the KSE-100 Index surged past the 155,000 mark for the first time ever.
By mid-morning, the benchmark index was 155,551.95, surging 1,274 points (0.83%), fueled by aggressive buying in cement, banking, oil and gas, OMCs, and power sectors.
First week of September set stage for record-breaking rally, as KSE-100 jumped 3.8% (5,659 points) to close at 154,277 points, driven by local investor frenzy, optimism over the Prime Minister’s China visit, and positive economic signals, despite continued foreign selling.
Globally, markets mirrored the excitement with the Nikkei climbing 1.8%, China blue chips up 0.3%, and Hong Kong’s Hang Seng index rising 0.35%. The US dollar weakened after disappointing labor data, increasing speculation of an interest rate cut, while Japan’s yen tumbled amid political uncertainty following Prime Minister Shigeru Ishiba’s resignation.
With the PSX hitting unimaginable highs, investors are riding a wave of euphoria, marking one of the most electrifying moments in Pakistan’s stock market history.
More updates to follow…
