PSX Surges to All Time High After Crossing 82,000 Mark for the First Time Ever

The Pakistan Stock Exchange (PSX) rallied above 82,000 in today’s trading session as bulls took control of the market in the first few hours of intraday trade. After opening trade at 80,461 points, the benchmark KSE-100 index went up by 1.57 percent or 1,266 points at 10:15 AM to 81,727. At 10:30 AM, it clocked in at 81,622, up by 1.44 percent or 1,160 points. At 12:35 PM, it broke all previous records after crossing the 82,000 level for the first time in history. At the time of filing, it was trading at 82,004, up by 1.9 percent 1,542 points. Analysts attribute today’s historic PSX surge to the United States Federal Reserve’s first-ever rate cut in four years which helped Asian markets gain momentum. A few pinned it on a potential drop in September’s inflation numbers as the economy continues to gradually recover from damages incurred in the past two years. The highest participation was witnessed in Kohinoor Spinning Mills Limited (PSX: KOSM) with over 25.9 million shares traded, followed by First Capital Securities Corporation (PSX: FCSC) and TRG Pakistan Limited (PSX: TRG). The scrips had 16 million shares and 11.8 million shares traded, respectively. This is an intraday market update.