PSX Reaches Historic High, Surpassing 142,000 Mark

The Pakistan Stock Exchange (PSX) witnessed a historic trading session as the KSE-100 index achieved a new milestone, exceeding the 142,000 level for the first time ever on Monday.

The bullish trend remained strong throughout the day, propelling the KSE-100 to an intra-day peak of 142,323.34.

The benchmark index concluded the session at 142,052.64, reflecting an increase of 1,017.66 points, which translates to a 0.72% rise.

Market analysts have suggested that the buying activity was fueled by positive investor sentiment following the recent trade agreement between the US and Pakistan, which is expected to lead to reduced tariffs for Pakistan.

Investors have reacted favorably to this development, viewing it as a potentially transformative event for the country’s economic future.

Last week, the PSX concluded on a high note, with the KSE-100 Index closing at a record 141,035 points, marking a weekly gain of 1.3%.

The index also achieved a fresh intraday high of 141,161 points, indicating a significant shift in market sentiment driven by the unexpected progress in trade relations with the United States and a resurgence of investor confidence in Pakistan’s macroeconomic outlook.

Globally, Asian stock markets mirrored Wall Street’s decline on Monday as concerns about the US economy resurfaced, prompting investors to anticipate a likely rate cut in September, which weakened the dollar.

Although slight gains in US stock futures and a continuous decline in oil prices helped mitigate losses, the disappointing July jobs report had a considerable impact.

Revisions revealed that payroll figures were 290,000 lower than initially estimated, and the three-month average decreased to 35,000 from 231,000 at the beginning of the year.

President Donald Trump’s response, which included the dismissal of the head of Labor Statistics, further eroded confidence in US economic data.

Additionally, the news that Trump would soon fill a governorship position at the Federal Reserve fueled concerns about the potential politicization of interest rate policies.

The expectation of reduced borrowing costs provided some support for equities, with S&P 500 futures increasing by 0.1% and Nasdaq futures rising by 0.2%.

However, Asian stock markets were still reacting to Friday’s downturn, with the Nikkei dropping by 2.1% and South Korea decreasing by 0.2%.

MSCI’s broadest index of Asia-Pacific shares outside Japan bucked the trend, increasing by 0.3%.

This information reflects intraday market activity.