Monday’s record high of 84,900 points was smashed by the oil sector’s explosive rebound and the market’s increased optimism about future interest rate reduction, according to dealers.
The benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) closed at an all-time high of 84,910.29 points on Friday, up 1,378.34 points or 1.65% from its previous finish of 83,531.96 points.
Brokerage company Arif Habib (AHL) stated in a post-market note that the stock index began the week strongly up, with 73 equities rising and just 23 declining throughout Monday’s positive run.
The research states that the primary contributors to the index increases were Pakistan Petroleum (PPL) (+6.82%), Oil and Gas Development Company (OGDC) (+7.66%), and Fauji Fertilizer Company (FFC) (+2.53%).
