KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Friday witnessed the benchmark 100 Index reaching an all-time high due to a positive trend on the final day of the business week.
During trading, the 100 Index rose by 330 points to reach 172,290 points.
At one stage, the index even touched its highest-ever level of 172,674 points during the session.
It is noteworthy that at the close of trading the previous day, the 100 Index had settled at 171,960 points.
On Thursday, the Pakistan Stock Exchange extended its strong rally, with the index closing at a fresh all-time high, buoyed by easing Pakistan Investment Bond (PIB) yields, positive macroeconomic signals, and increased merger and acquisition activity in major sectors. The benchmark KSE-100 index climbed 1,646.79 points, or 0.97%.
Globally, Asian equity markets recovered on Friday as a rebound in technology stocks propelled Wall Street higher, while investors awaited a potential interest rate hike by the Bank of Japan that could have significant implications for currency and bond markets.
Market sentiment was further supported by an unexpected slowdown in US consumer inflation to 2.7%. However, analysts warned that the figure was likely understated due to the government shutdown and should be interpreted with caution.
Meanwhile, expectations around US monetary policy shifted only slightly, with markets pricing in a 27% probability of a Federal Reserve rate cut in January, while the likelihood for March edged up to 58% from 54% prior to the inflation data.