Karachi: The Pakistan Stock Exchange (PSX) witnessed continued upward momentum on Thursday, driven by investor optimism over an expected rate cut in the upcoming monetary policy announcement. Notable trading activity was concentrated in the cement and steel sectors, alongside movements in the fertilizer and oil and gas industries, culminating in a significant rise in the index.

According to JS Global, the index reached an intra-day high of 78,996 points, marking an increase of 735 points, before settling at 78,793 points by the close, up by 533 points from the previous day. This positive trend is attributed to expectations of a rate cut, set to be reviewed on September 12, which has spurred buying interest at lower levels as suggested by market analysts. Looking ahead, market sentiment is expected to be heavily influenced by economic developments, with a strategic focus on sectors that may benefit from the anticipated policy adjustments.