The Pakistan Stock Exchange (PSX) achieved a historic milestone as the benchmark KSE-100 Index surged past the 97,000-point mark for the first time. A remarkable surge of over 1,500 points propelled the market to new heights, reflecting strong investor optimism.
The rally was primarily driven by significant buying interest in fertilizer stocks. Not long before reaching this record, the KSE-100 had gained 1,175 points, reaching 96,721 points. Earlier in the day, the market showed signs of recovery after a brief correction, with the index initially falling by 246 points to 95,300, before bouncing back to the 96,000-point level, gaining 1,014 points to reach 96,560 points.
The day’s trading was marked by volatility, as the index fluctuated between gains and losses. At the opening, the market dipped 170 points to 95,377, only to recover with a 279-point rally. Later, the index surged by 510 points, closing at 96,056 points.
Analysts attributed the market’s strong performance to heightened investor confidence in the fertilizer sector, though the volatile trading pattern highlighted caution among traders, as the index briefly dipped into negative territory before bouncing back.
