The Pakistan Stock Exchange (PSX) experienced a notable resurgence of bullish activity on Thursday, with the benchmark KSE-100 Index surpassing the historic 97,000 mark during intraday trading.
Investor sentiment improved, and buying momentum escalated, propelling the index to a peak of 97,030.19 points and achieving an intra-day gain of 1,483.74 points. Analysts suggest this rally resulted from diminishing concerns about the political protests planned for November 24, which had previously stirred market volatility.
Investors, wary due to the anticipated impact of the protests on Pakistan’s political scene, welcomed the market’s recovery.
Read: Bullish Surge: PSX KSE-100 Index Exceeds 94,000 Points Amidst Robust Trading
Today, the PSX saw the KSE-100 index climb 1.14%, reaching 96,634.61 points during midday trading. By 12:30 pm, the index had increased by 1,088.16 points from its opening at 95,546.45 points, marking a significant upturn. The day’s trading fluctuated between a high of 96,634.61 points and a low of 95,300.21 points.
Trading volume reached 136,457,756 shares, totalling a value of 8.25 billion PKR.
Contrastingly, Wednesday’s trading at the PSX was less stable. The KSE-100 index initially soared due to robust buying interest but eventually closed 310 points lower, affected by profit-taking and political uncertainties. Early gains were eroded by midday sell-offs prompted by ongoing political concerns despite a brief recovery later in the day. This volatility was further exacerbated by higher-than-average foreign corporate selling, pushing the index lower.
