MM News Bulls March on PSX, KSE-100 Crosses 99,000 Points
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Positive trend continued in Pakistan Stock Exchange (PSX). KSE-100 crossed the 99,000 Mark for the first time during intraday trading on Friday.
As of 2:50 PM, the benchmark index stood at 98,920.34, up 1,591.95 points (1.64%). Earlier, the KSE-100 touched an intraday peak of 99,623.03.
Key sectors such as automobiles, commercial banks, fertilizers, oil and gas exploration, OMCs, and power generation saw significant buying activity. Heavyweight stocks like FFC, FFBQL, PSO, PPL, and OGDC traded strongly in the green.
The bullish trend is driven by positive macroeconomic indicators, expectations of further policy rate cuts, and increased institutional buying.
According to Sana Tawfiq, head of research at Arif Habib Ltd (AHL), “Liquidity is shifting from fixed income to equities, fueling the rally.”
Market sentiment has been further bolstered by lower inflation estimates for November, expected to be between 4.5% and 5%, raising the possibility of a rate cut.
A note by Intermarket Securities Ltd highlighted optimism regarding the government’s plans to deal with the energy sector’s revolving debt and limited impact of the coming political protests.
As the index approaches the 100,000 milestone, the PSX has become the world’s second-best performing stock market, reflecting renewed investor confidence and economic stability.
