The Pakistan Stock Exchange (PSX) continued its bullish run on Monday, with the benchmark index climbing 1,590 points, or 0.98%, to close at 163,847.
The index touched an intraday high of 1,646 points as aggressive institutional buying, particularly from local mutual funds, fueled the rally.
Data from the National Clearing Company of Pakistan Limited (NCCPL) showed that mutual funds were significant net buyers on Friday, and the momentum carried over into today’s session, providing strong support to the market, said Topline Securities.
Key sectors led the charge, with FFC, PSO, HBL, NBP, and FABL collectively contributing 1,017 points to the index. However, some pressure from ENGROH, LUCK, DGKC, and MTL trimmed 206 points from the gains.
Trading activity was slightly subdued compared to the previous session, with volumes at 1,282 million shares and a traded value of PKR 65.7 billion. WorldCall Telecom (WTL) led the volume chart, with 118 million shares changing hands.
Strong institutional inflows and improved investor sentiment kept the bulls firmly in control, propelling the PSX to new record territory.
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And yet prices are high.
More high prices expected by 1st Oct
No decrease in prices of goods bought from abroad .
Not to mention foreign investment at all time low
Unemployment still not reduced