PSX extends record rally on robust buying
The Pakistan Stock Exchange (PSX) extended its record-setting rally into the fifth consecutive session on Thursday, with the benchmark KSE-100 index closing at an all-time high, driven by robust buying interest across key sectors. Ahsan Mehanti of Arif Habib Corporation attributed the bullish momentum to the government’s decision to cut rates on National Savings Schemes, prompting a shift of capital into equities. He also cited the State Bank of Pakistan’s (SBP) foreign exchange reserves reaching $14.5bn, lower inflation, reduced industrial power tariffs, and renewed government focus on privatising state-owned enterprises as catalysts behind investor optimism. Topline Securities Ltd reported that the KSE-100 index settled at 130,686.66, up 342.63 points or 0.26 per cent. The session witnessed significant intraday volatility, with the index touching a high of 131,325 and a low of 129,776 as investors engaged in strategic profit-taking.