PSX at peak ahead of policy decision

The Pakistan Stock Exchange (PSX) opened the week on Monday with renewed optimism and rose to a record high above 170k, reflecting the extension of bullish momentum from the previous week. Investors remained somewhat upbeat ahead of the monetary policy announcement later in the day, when the central bank unexpectedly cut its policy rate by 50 basis points. The rally was largely driven by buying interest in energy stocks, alongside expectations of a reduction in the policy rate. The session saw wild swings as the KSE-100 index traded between the intra-day high of 171,002 and the low of 170,293, indicating active participation. At close, the benchmark index recorded a notable growth of 876.82 points, or 0.52%, and settled at 170,741.35. In its market wrap, KTrade Securities wrote that the PSX kicked off the week on a strong footing, extending the positive momentum seen in recent sessions. The KSE-100 index gained 877 points to close at 170,741, marking a new all-time high, as sustained buying interest kept the market firm throughout the day.