Thanks to encouraging economic data and comparatively stable political conditions, the Pakistan Stock Exchange (PSX) saw more gains on Monday, with the benchmark index increasing by more than 550 points during intraday trade.
The benchmark index increased by 552.36 points, or 0.65%, to 86,000 by 11:40 am. There was widespread buying in important industries like automakers, cement, chemicals, commercial banks, fertilizers, and oil and gas exploration firms. Index-heavy stocks like OGDC, PPL, HBL, NBP, EFERT, and HUBCO did particularly well.
One of the main factors driving the surge, according to analysts, is the expectation of a lower inflation rate this month. “A Consumer Price Index (CPI) reading of below 7% is what the market is expecting for October,” Ismail Iqbal Securities analyst Saad Hanif stated.
