KARACHI: Despite an unprecedented downpour in Karachi — the economic nerve centre of Pakistan — that hampered business and industrial activities across the city, the Pakistan Stock Exchange (PSX) continued its bullish run, hitting an all-time high of 149,770 points.
The benchmark KSE-100 index briefly crossed the psychological barrier of 150,000 in intraday trading, before profit-taking trimmed some early gains. Nonetheless, the market ended at a record level, marking a net gain of 1,572 points, or 1.06 per cent.
According to Topline Securities, the positive momentum from previous trading sessions continued, underpinned by strong institutional inflows, particularly in the banking and cement sectors. Cement sales, which gained significant traction in August, are expected to surpass earnings projections. This sustained optimism helped propel the index to an intraday high of 150,323, before closing at 149,770 points.
The rally was driven by the performance of key index heavyweights, including Bank Al-H