PSX surge 6,700 points on improved investor confidence

The market successfully crossed six psychological thresholds, reflecting strong bullish momentum.

KARACHI:  The Pakistan Stock Exchange (PSX) witnessed a robust performance during the outgoing week, with the benchmark KSE-100 Index gaining nearly 4 percent on a weekly basis.

The KSE-100 Index surged by 6,748 points over the week, closing at 173,939 points compared to 167,191 points at the start of the trading period.

During the week, the market successfully crossed six psychological thresholds, reflecting strong bullish momentum.

Out of five trading sessions, the market remained positive for four days, while only one session ended in the red.

The index touched a weekly high of 174,404 points, while the lowest level recorded during the week stood at 160,158 points.

Market capitalization increased significantly by Rs776 billion over the five trading days, reaching a total of Rs19, 250 billion.

Trading activity also remained strong, with approximately 5 billion shares exchanged during the week, amounting to a value of Rs241 billion. On a weekly basis, average daily trading volume rose by 37 percent to reach 1 billion shares.

Market experts attributed the bullish trend to improved investor confidence, driven by signals of easing tensions between the United States and Iran, which helped stabilize sentiment in global and regional markets.