On the first day of the trading week, the Pakistan Stock Exchange continues to rise with a bullish trend, and initially, several indices were seen trading in the green.
The bullish trend continued on the first day of the trading week (Monday) at the Pakistan Stock Exchange (PSX), where the benchmark KSE-100 index crossed the psychological threshold of 125,000 after rising more than 1,100 points in early trading hours.
At 9:45 am, the index was trading at 125,191.97 points, up 812.91 points, showing a gain of 0.65 percent. Later, the rise reached 1,100 points, and the index touched the 125,400 level.
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The business activities were mainly concentrated in automobile assemblers, cement, commercial banks, oil & gas exploration companies, oil marketing companies (OMCs), power generation, and refinery sectors.
Heavyweights in the index like ARL, HUBCO, MARI, OGDC, PPL, POL, PSO, and SSGC were trading in the green. The Pakistan Stock Exchange also performed well last week, when the KSE-100 index closed at an all-time high of 124,379 points, up 4,355 points, or 3.6 percent, every week.
The major reasons for this spectacular rally were the reduction of geopolitical tensions in the Middle East and the unimpeded passage of the federal budget in the National Assembly, which further strengthened investor confidence.
