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.
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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.
