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The Pakistan Stock Exchange (PSX) reached a historic milestone as the KSE-100 Index crossed 97,000 points for the first time, driven by a robust rally of over 1,500 points that showcased strong investor confidence.
The surge was primarily fueled by significant buying in fertilizer stocks. Earlier, the index gained 1,175 points, hitting a record 96,721 points before surpassing the 97,000 mark.
After a brief correction, the PSX showed signs of recovery, with the KSE-100 Index rebounding from an initial 246-point drop to 95,300. It quickly climbed back to 96,000, gaining 1,014 points to reach 96,560 points.
The day’s trading was marked by volatility, with the index fluctuating between gains and losses. It opened with a 170-point decline to 95,377, then rallied 279 points. Later, a further rise of 510 points pushed the market to close at 96,056 points.
Market analysts attributed the rally to heightened investor interest in fertilizer stocks, which drove substantial buying activity. However, the day’s swings highlighted a cautious approach among traders as the market briefly dipped into negative territory before climbing again.
