Karachi: The Pakistan Stock Exchange (PSX) witnessed continued bullish activity with a focus on technology and fertilizer stocks, driven by investor anticipation of a policy rate reduction by the central bank scheduled for July 29, 2024. Despite these gains, trading volumes remained relatively low throughout the day.

According to JS Global, the KSE-100 index reached an intra-day high of 79,704 points, marking a gain of 717 points, and closed the day up 410 points at 79,397. This positive trend is expected to persist, with potential further gains driven by corporate results-based activities in the coming sessions. The report highlights that while there was active buying in the market, the overall transaction volume was subdued, indicating cautious optimism among traders.

The broader market performance was similarly upbeat, with the KSE-30 index also recording gains. Notable stock performances included TRG, which saw a significant increase of 10%, and FABL, which rose by 9.04%. On the downside, companies like NCPL and PAKT experienced declines in their stock values.

Looking ahead, JS Global anticipates that the market will continue to see upward movement, supported by favorable corporate earnings and the potential easing of monetary policy. This outlook is based on the comprehensive analysis provided by JS Global's research, accessible through multiple financial information platforms.