The Pakistan Stock Exchange (PSX) opened the week on a historic note as the benchmark KSE-100 Index crossed 155,000 points for the first time on Monday.
At 10am, the index was trading at 155,551.95, up 1,274.76 points or 0.83%. Buying momentum was strong across major sectors including cement, commercial banks, oil and gas exploration, OMCs and power generation. Index-heavy stocks such as HUBCO, OGDC, PPL, HBL, and MCB traded firmly in the green.
Market analysts attributed the rally to easing inflationary pressures in August. “The case for a rate cut has strengthened, but caution is likely as flood-related damages could push food inflation higher,” the Bank of Punjab noted in its daily report.
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The momentum follows last week’s strong performance, when the PSX rose 3.8% or 5,659 points, closing at a record 154,277. Investors were encouraged by the Prime Minister’s China visit, resilient local demand, and supportive economic signals, despite continued foreign outflows.
Globally, stocks edged higher as weak US labour data increased expectations of a Federal Reserve rate cut. Meanwhile, political uncertainty in Japan following the resignation of Prime Minister Shigeru Ishiba pressured the yen, which fell 0.6% to 148.39 per dollar.
