KARACHI: Pakistan Stock Exchange (PSX) Friday continued its bullish trends and for the first time in Pakistan’s history of PSX, the KSE-100 benchmark crossed the milestone of 66,000 points.
The KSE-100 Index increased by over 1200 points and the stock market reached 65,240 points.
Experts said that market sentiment was not worried about a potential delay in the disbursement of the IMF tranche until January following the successful Staff Level Agreement.
The experts also said that noted two new positive developments: potential Chinese investment in the Pakistan Refinery Limited, which had raised expectations of the passing of the long-delayed refinery policy, and correction in oil prices amid global demand worries.
Pakistan Stock Exchange (PSX) Thursday witnessed an unprecedented surge, reaching new milestones and closing at the highest level in its history. The bullish momentum was evident as the market notched up an incredible 1000 points twice within the trading day.
The KSE-100 index soared past the significant milestone of 64500 points for the first time wherein investors and market analysts alike celebrated the achievement over the robust performance of the country’s financial markets.
The day’s success was further underscored by a substantial uptick in market activity, with over 1.2 billion shares changing hands in significant transactions.
The total traded value reached an impressive 37 billion rupees, reflecting a surge in investor confidence and a renewed interest in the stock market.
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