Pakistan Stock Exchange (PSX) Friday continued its bullish moment and for the first time in the history of PSX, the KSE-100 benchmark crossed the milestone of 66,155 points.
The KSE-100 Index increased by over 1,400 points and the stock market reached 66,155 points.
Caretaker Prime Minister Anwarul Haq Kakar addressing an event at the Pakistan Stock Market, said that Caretaker Prime Minister Anwar Haq Kakar said the stock exchange plays an important role in the economy of the country and due to economic improvement, the stock market has increased by 40% since September. While the value of the dollar was 307 rupees in September, it is around Rs284 today.
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.