Islamabad, Jan 14: The Pakistan Stock Exchange (PSX) witnessed sustained buying momentum on Tuesday, with the KSE-100 Index climbing by 574.10 points, a 0.50% increase compared to Monday’s closing. The index closed at an impressive 114,804 points, reflecting renewed investor confidence in the market.
A total of 463 companies participated in trading during the day. Among them, 269 recorded gains, showcasing optimism across multiple sectors. Meanwhile, 137 companies experienced losses, and 57 saw no change in their share prices.
Market analysts from Intermarket Securities highlighted in a morning note that the market sentiment could see further uplift if the upcoming Monetary Policy Committee (MPC) meeting on January 27, 2025, announces a more significant rate cut, potentially exceeding 100 basis points. Such a decision could spur greater economic activity and boost investor sentiment further.
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Additionally, concerns over intense price competition in the cement sector, which had weighed on market performance earlier, appear to be easing. Analysts believe that the stabilization in the cement sector could serve as another key factor driving the current market recovery.
With these favorable conditions, the PSX continues to demonstrate resilience, reflecting both domestic and global investors’ growing interest. The combination of a possible rate cut and improved sectoral performance could pave the way for sustained bullish momentum in the days ahead.
