Aaj English TV

Tuesday, November 05, 2024  
02 Jumada Al-Awwal 1446  

Pakistan Stock Exchange shatters record ahead of MPC decision

Positive corporate earnings reports, improving economic indicators
Photo via BR
Photo via BR

The Pakistan Stock Exchange (PSX) experienced a significant boost on November 4, 2024, with the KSE-100 Index surging nearly 1,100 points during early trading. By noon , the index reached 92,047.64 points.

Investor enthusiasm was evident across key sectors, including automobile manufacturing, cement, chemicals, commercial banking, fertilizers, and oil and gas exploration. Major stocks such as OGDC, PPL, SNGP, SSGC, and HCAR were all trending positively.

This buying momentum comes as investors anticipate a potential reduction in the key policy rate in the upcoming Monetary Policy Committee (MPC) meeting later in the day.

Positive corporate earnings reports and improving economic indicators have further fueled market optimism.

Notably, Pakistan reported its first quarterly budget surplus in over two decades, amounting to Rs. 1.7 trillion for the first quarter of FY25, although there are concerns about tax authorities meeting their revenue targets.

Read more

Benchmark index of PSX stays bearish, loses 265 more points

PSX sees bullish trend, gains 229 more points

Shares rebound in PSX after bearish sessions

Last week, the PSX also saw a bullish trend, with the index climbing 865.88 points to close at 90,859.85.

The current market activity reflects a positive outlook for investors as they await the MPC’s decision, which could significantly influence future market performance.

For the latest news, follow us on Twitter @Aaj_Urdu. We are also on Facebook, Instagram and YouTube.

PSX

bullion rates

trade

KSE 100