Stocks continue to shatter records

Pakistan Stock Exchange (PSX), while shattering records, set an unprecedented pace of rapid growth as the KSE-100 index surged a massive 3,134 points on Thursday, surpassing the 108,000 mark. The rally was powered by a combination of positive economic indicators and investor optimism. The annual inflation rate fell to 4.9% in November, its lowest level in six years, while the trade deficit shrank 19% year-on-year (YoY) to $1.59 billion. Those developments sparked hopes for a current account surplus and further strengthened confidence in the market's future. The rally was broad-based, with strong gains across key sectors including energy, fertiliser and commercial banks. Major companies in those sectors played a pivotal role in driving the market forward. Analyst Tahir Abbas commented that the PSX achieved another milestone as market activity surged to a 19-year high and the traded value touched Rs63 billion, or $227 million. It marked the highest activity in the regular market since April 17, 2006.