ISLAMABAD: Bullish momentum persisted at the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KSE-100 Index closing at a new all-time high.
Positive trading was observed throughout the day, pushing the KSE-100 Index to an intra-day high of 125,748.58.
By the close of the trading, the stock market settled at 125,627.31, marking a gain of 1,248.25 points or 1.00%.
On Friday, a total of 1,144,553,310 shares were traded at the Pakistan Stock Exchange as compared to 773,409,701 shares on the last working day, whereas the price of shares stood at PKR 35.238 billion against PKR 37.567 billion on the previous trading day.
As many as 481 companies transacted their shares in the stock market, 297 of them recorded gains, and 159 met losses, whereas the share price of 32 companies remained unchanged.
The Pakistan Stock Exchange (PSX) saw a remarkable performance last week, with the benchmark KSE-100 Index surging by 4,355 points, or 3.6% on a week-on-week (WoW) basis. The index closed at a record high of 124,379 points on Friday.
This sharp upward momentum was fueled by easing geopolitical tensions in the Middle East, along with the smooth passage of the federal budget through the National Assembly, both of which boosted investor confidence.
On the international front, Asian stock markets opened higher on Monday, supported by improving risk sentiment. This came after signs of progress in trade negotiations between the United States and Canada, which helped calm market nerves. At the same time, the US dollar weakened amid expectations that upcoming jobs data might reflect enough softness to warrant more aggressive interest rate cuts.
In a significant move, Canada announced on Sunday that it had withdrawn its digital services tax to facilitate ongoing trade talks.
The decision came in response to mounting pressure from President Donald Trump. The negotiations aim to finalise a deal by July 21, pushing back Trump’s original July 9 deadline for imposing “reciprocal” tariffs.
