Pakistan Stock Exchange hits record high, nears 97,000 points
The Pakistan Stock Exchange (PSX) experienced a dip during intra-day trading on Wednesday, with the benchmark KSE-100 Index losing nearly 350 points after a strong start.
The trading session began on a positive note, with the index reaching an intra-day high of 96,711 in early hours. However, profit-taking by investors led to a decline, pushing the index down to 95,507.97 by 1:30 PM, marking a decrease of 348.69 points or 0.36%.
Despite the dip, market sentiment remains positive, driven by improving macroeconomic indicators. A significant drop in inflation rates has sparked optimism about further policy rate cuts.
Topline Securities reports that inflation, based on the Consumer Price Index (CPI), is expected to fall below 5% in November, reaching a 78-month low.
Key sectors such as cement, commercial banks, fertilizers, oil and gas exploration, and power generation attracted buying activity. Notable stocks trading in the green included KE, PSO, SHEL, OGDC, PPL, MARI, MEBL, NBP, and HBL.
While the market witnessed profit-taking, the underlying optimism reflects hopes for continued economic improvement and favorable conditions for investors in the coming days.
