Pakistan Stock Exchange crosses historic 142,000 milestone – SUCH TV

On Monday, the Pakistan Stock Exchange (PSX) reached a historic milestone as strong buying momentum pushed the benchmark KSE-100 Index beyond the 142,000 mark during the opening session.

The index surged by 1,135 points to touch 142,174 early in the day, setting a new record for the market.

However, profit-taking soon followed, with investors looking to secure gains after the sharp rally.

By 10:40 am, the index had slightly eased and was trading at 141,963.72 — up 928.74 points or 0.65 percent.

Of the total 436 companies traded so far, share prices of 251 companies were up and of 167 were down while 18 remained unchanged.

Buying was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, power generation and refinery.

Index-heavy stocks including ARL, MARI, OGDC, PPL, POL, PSO, WAFI, HBL, MEBL and NBP, traded in the green.

Analysts attributed the buying rally to investor optimism after the US and Pakistan struck a trade deal that will result in lower tariffs for the South Asian nation.

On Friday last, the PSX had witnessed an extraordinary surge.

The index closed at an all-time high of 141,035 points, reflecting an increase of 1,645 points by the end of the trading session.