PSX extends northward journey for ninth straight week
Extending the bullish spell for the ninth straight week, the KSE-100 index posted a solid gain of over 2 per cent, closing at 149,493 points, buoyed by strong buying interest and an influx of mutual fund investments. The positive momentum came despite political uncertainties and a volatile market environment. During the week, foreign inflows into mutual funds stood at $55.5m, contributing significantly to the market’s upward movement. According to Topline Securities, the index was also supported by positive developments on the macroeconomic front, including a narrowing of Pakistan’s current account deficit to $254m in July, down from $348m in the same month last year. Additionally, industrial growth remained positive, with IT exports rising 24pc year-on-year in July, reaching $354m, up from $286m in July 2024. The Large-Scale Manufacturing (LSM) index also grew by 4.1pc year-on-year in June.