ISLAMABAD: The Pakistan stock market witnessed bullish momentum as its benchmark KSE-100 index gained over 800 points during Thursday’s opening hours.
As per details, the KSE-100 was at 114,278.10 by 11:50 am, marking an increase of 834.67 points or 0.74%.
The highest index for today was 114,319.62, and the lowest was 113,234.31.
Buying activity was noted across key sectors, including automobile assemblers, commercial banks, cement, fertilizer, oil and gas exploration companies, oil marketing companies, and power generation, according to Business Recorder.
Major stocks such as PSO, SNGPL, SSGC, OGDC, HUBCO, PPL, NBP, POL, MCB, and UBL all traded in positive territory.
“The KSE100 fell 1.4% to 113,443pts. The trend may continue in today’s session. The market remains worried about the future direction of politics, while there is a lack of any new positive triggers. Retail investors are facing margin calls, which is worsening the selling pressure.
Lastly, some quarters of the market are expecting a less than 100bps cut in the upcoming MPC (27 Jan),” Intermarket Securities said in a Facebook post.
The Pakistan Stock Exchange performed strongly as the benchmark index hit 116,090.5 during intraday trading on January 21.
On Monday, January 20, stocks rallied at the PSX. The KSE-100 index gained over 900 points in intraday trading. At 1:08 pm, it had risen by 938 points, reaching 116,210.41, according to the PSX website.
Bitcoin reached a record high above $109,000 on January 20.
Also Read: IMF projects 3% growth for Pakistan economy in 2025
The surge came as Donald Trump prepared to take office, signaling plans to deregulate the cryptocurrency sector. Bitcoin hit a peak of $109,241 before dropping to $107,765 at 0740 GMT.
