The Pakistan Stock Exchange’s (PSX) KSE-100 index saw a bullish trend on Monday, gaining 201.55 points, a positive change of 0.22 per cent, closing at 90,195.52 points as compared to 89,993.97 points on the last trading day.
A total of 567,264,435 shares were traded during the day as compared to 695,544,676 shares the previous trading day, whereas the price of shares stood at Rs 29.210 billion against Rs. 37.873 billion on the last trading day.
As many as 456 companies transacted their shares in the stock market, 179 of them recorded gains and 222 sustained losses, whereas the share price of 55 companies remained unchanged.
Market analysts attribute this upward trend to several factors, including expectations of a potential interest rate cut by the State Bank of Pakistan (SBP) on November 4.
Sana Tawfik, Deputy Head of Research at Arif Habib Limited, noted that the positive movement is also influenced by the ongoing earnings season and improved liquidity conditions in the country.
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Additionally, discussions surrounding the privatization of state-owned enterprises are fueling speculation among investors, further driving market activity.
As the situation develops, more details are anticipated regarding the factors contributing to this significant market rally.
