ISLAMABAD: Pakistan Stock Exchange (PSX) on Monday made history by crossing the landmark of 142,000 points for the first time, with the benchmark 100-Index surged by over 1000 points amid a strong buying rally.
During the session, the KSE-100 Index reached an intraday high of 142,323.34.
At close, the benchmark KSE-100 index settled at 142,052.64 level, showing an increase of 1,017.66 points or 0.72%.
Analysts attributed the buying rally to investor optimism following a new trade agreement between the United States and Pakistan, which will lower tariffs for the South Asian nation.
Investors have responded positively, viewing the deal as a potential turning point for Pakistan’s economy.
On Monday, a total of 666,372,806 shares were traded as compared to 603,430,399 shares on the last working day, whereas the price of shares stood at PKR 42.924 billion against PKR 50.156 billion on the previous trading day.
As many as 482 companies transacted their shares in the stock market, 247 of them recorded gains and 206 met losses, whereas the share price of 29 companies remained unchanged.
The Pakistan Stock Exchange (PSX) concluded a historic week, with the benchmark KSE-100 Index closing at a record high of 141,035 points, marking a 1.3% weekly gain.
The index also hit a new intraday peak of 141,161 points, highlighting a sharp shift in market sentiment.
This surge was largely fuelled by an unexpected breakthrough in trade relations with the United States and renewed investor confidence in Pakistan’s macroeconomic outlook.
Global trend
On the international front, Asian share markets followed Wall Street lower on Monday as fears for the US economy returned with a vengeance, spurring investors to price in an almost certain rate cut for September and undermining the dollar.
While US stock futures showed some early resilience—S&P 500 futures edged up 0.1%, and Nasdaq futures gained 0.2%—the negative implications of the July payrolls report cast a long shadow.
Revisions revealed that job growth was 290,000 below prior estimates, with the three-month average dropping sharply to 35,000 from 231,000 at the start of the year.
Investor confidence was further shaken by President Donald Trump’s decision to dismiss the head of the Bureau of Labour Statistics, raising concerns over the credibility of US economic data.
Additionally, news that Trump would soon appoint a new Federal Reserve governor intensified fears of increased political influence over monetary policy.
Asian markets mostly reflected Friday’s losses on Wall Street. Japan’s Nikkei fell 2.1%, and South Korea’s benchmark slipped 0.2%.
However, MSCI’s broadest index of Asia-Pacific shares outside Japan defied the trend, rising 0.3%. A continued decline in oil prices also helped limit regional losses.
