The Pakistan Stock Exchange (PSX) crossed a historic milestone as the KSE-100 index crossed 97,000 points for the first time, following a strong rally of over 1,500 points that reflected strong investor confidence.
This increase was primarily driven by significant purchases in fertilizer stocks. Earlier, the index gained 1,175 points, touching a record 96,721 points before crossing the 97,000 mark.
After a brief correction, the PSX showed signs of recovery, with the KSE-100 index closing at 95,300 after an initial 246-point loss. It quickly climbed back to 96,000, gaining 1,014 points to 96,560 points.
The day’s trading was marked by volatility, with the index fluctuating between gains and losses. It opened down 170 points at 95,377, then climbed 279 points. Later, a further gain of 510 points closed the market at 96,056 points.
Market analysts attributed the rally to growing investor interest in fertilizer stocks, which led to substantial buying activity. However, the day’s swings highlighted a cautious approach among traders as the market dipped briefly into negative territory before climbing again.
