The Pakistan Stock Exchange (PSX) on Monday reached record highs as the KSE-100 surpassed the 84,000 limit after gaining 634 points.
The benchmark KSE-100 index surged by 2,239.83 points week-on-week last week, crossing the significant psychological level of 83,000 for the first time, and closing at an all-time high of 83,531.96 points.
Despite this positive momentum, trading activity was subdued. Average daily trading volumes on the ready counter fell by 12.1% to 343.89 million shares, compared to the previous week’s average of 391.07 million shares. Additionally, the average daily traded value decreased by 1.3% to Rs 16.72 billion, down from Rs 16.94 billion the week before.
Foreign investors were net sellers, pulling out $26.059 million from the local equity market. Overall, total market capitalization increased by Rs 226 billion this week, reaching Rs 10.879 trillion.
An analyst at AKD Securities noted that the market maintained its bullish momentum, driven by expectations of declining interest rates and the anticipated approval of the IMF’s Extended Fund Facility (EFF).
