The PSX is nearing the 100,000 milestone as the market hits new highs.

KARACHI: The Pakistan Stock Exchange (PSX) continues to rally, with the benchmark KSE-100 index now close to 99,000 points after gaining 1,200 points during intraday trading.

On the first working day of the week, the index opened in the red, touching an intraday low of 97,137.63. However, buying activity picked up, pushing the index above 99,000, before retreating slightly to a high of 99,317.47.

Commercial banks led the charge with big gains while pharma companies and fertilizers took part in the rally. The KSE-100 index rose 389.09 points to 98,187.32 as the index fluctuated between a high of 99,317.47 and a low of 97,137.63 with a traded volume of 144,322,912 shares.

The KSE-100 has gained 66.70% over the past year and 51.85% year-to-date. Despite these gains, ongoing political tensions in the country, including PTI’s long march, are weighing on market sentiment.

PTI protesters are marching towards Islamabad demanding the release of political prisoners, repeal of the controversial 26th Constitutional Amendment and the release of party founder Imran Khan.