Bulls Celebrate New Year to Push PSX Beyond 117,000 Points

The Pakistan Stock Exchange (PSX) began the new year on a high on Wednesday as bullish momentum saw the benchmark KSE-100 Index gain over 1,800 points. The KSE-100 Index closed the day at a new all-time high of 117,008 points, up 1,881 points or 1.61 percent over the previous day.  A total of 931,284,453 shares were traded during the day as compared to 1,236,873,705 shares the previous trading day, whereas the price of shares stood at Rs 42.62 billion against Rs. 44.22 billion on the last trading day.  461 companies transacted their shares in the stock market today with 258 recording gains and 160 sustaining losses, whereas the share price of 43 companies remained unchanged. In a key development, the CPI for December 2024 came in at 4.1 percent, lowest reading in 81 months. While inflation during 1HFY25 averaged at 7.22 percent compared to 28.79 percent in 1HFY24.  It is pertinent to mention here that the PSX had a splendid 2024 as it ended the year as the second-best performing market in the world, providing a gain of 84 percent in Pakistani rupee terms and 87 percent in US dollar terms.