The Pakistan Stock Exchange (PSX) continued its bullish momentum on Friday, with the benchmark KSE-100 Index crossing the 109,000-point mark for the first time in history. The index gained over 1,000 points during intra-day trading, reflecting strong investor confidence.

The benchmark KSE-100 index rose 814.99 points, or 0.75 percent, to stand at 109,053.95 points at the end of the day from the previous close of 108,238.96.

Buying activity was observed across key sectors, including automobile assemblers, commercial banks, fertilizer, oil marketing companies (OMCs), and oil and gas exploration companies. Major index-heavy stocks such as PPL, MARI, SSGC, SNGP, MCB, NBP, UBL, and DFML traded in the green, contributing to the market’s upward trajectory.

The positive trend is being driven by heightened investor optimism and robust market sentiment, fueled by expectations of a substantial rate cut in the upcoming monetary policy meeting, scheduled for December 16, 2024.

The rally follows Thursday’s record-breaking session, where the KSE-100 Index surged by 3,134.63 points or 2.98%, closing at an all-time high of 108,238.97 points. The gains were supported by strong interest from local investors and institutional backing.

Adding to the positive sentiment, Saudi Arabia announced the extension of its $3 billion deposit with Pakistan for another year. The deposit, placed with the State Bank of Pakistan (SBP), matured on Thursday but was extended at the federal government’s request. The move is expected to further stabilize Pakistan’s economy and boost investor confidence.