Karachi: The Pakistan Stock Exchange (PSX) saw bullish activity on the first day of the week, driven by investor optimism regarding an anticipated significant cut in the monetary policy rate. The KSE-100 index surged by 798 points, closing at 78,827 points. The uptick was predominantly seen in sectors like cement, auto, and technology, which witnessed robust buying.

According to JS Global, the surge in the stock market was propelled by hopes of a favorable monetary policy announcement expected to lower interest rates. Most active stocks for the day included WAVESAPP, which led with 27.9 million shares traded, followed by ASC, DFML, FCCL, and WTL. Mubashir Anis Naviwala of JS Global recommended a 'Buy on dips' approach for investors, particularly focusing on stocks within the cement, steel, textile, and technology sectors.

The broader market also reflected significant activity, with the KSE-30 index rising by 250.52 points, an increase of 1.00%. Year-to-date, the KSE-100 index has shown a growth of 26.22%, indicating strong market momentum. However, certain stocks like KTML and PGLC witnessed declines, pointing to selective trading behavior among investors.

JS Global highlights the market's overall positive trajectory but suggests cautious optimism, given the complex interplay of global economic factors and domestic fiscal policies. The firm advises continued vigilance and strategic buying to capitalize on market movements.