The Pakistan Stock Exchange (PSX) created history during trading as the benchmark KSE-100 Index crossed the milestone of 97,000 points for the first time.
A massive surge of over 1,500 points propelled the market to unprecedented heights, reflecting strong investor confidence.
The market's rally was largely driven by robust buying activity in fertilizer stocks. A short while ago, the KSE-100 Index had climbed 1,175 points to reach a record 96,721 points.
Earlier, the PSX showed signs of recovery after a brief correction. The benchmark index, which had initially dropped 246 points to 95,300, rebounded swiftly, restoring to the 96,000-point level. It had gained 1,014 points to reach 96,560 points.
Volatility dominated the day’s trading, with the index fluctuating between gains and losses. At the start of trading, the market fell 170 points to 95,377 before rallying 279 points. Later, the index rose by 510 points, ending at 96,056 points.
Market analysts attributed the rally to increased investor confidence in fertilizer stocks, which spurred significant buying activity. However, the volatile trend underscored caution among traders, as the market briefly dipped into negative territory before surging again.
