PSX hits new highs despite flood concerns
In a striking contrast to growing concerns over flood-related risks to economic growth, the Pakistan Stock Exchange (PSX) extended its record-setting rally on Thursday, with the benchmark KSE-100 index closing at yet another all-time high with its fifth straight gain. Investors shrugged off looming macroeconomic challenges, including the potential impact of widespread monsoon flooding, as they continued to hunt for value in select sectors amid robust liquidity and institutional support. The index gained 464 points, or 0.30 per cent, to close at 152,666 — maintaining its upward trajectory amid strong institutional interest and positive economic signals. The session opened on a robust note, with investors actively accumulating positions in fertiliser, cement, technology, and exploration and production (E&P) stocks.