KSE-100 index rises above 49,000 mark after six years in early trading
Last updated on: 03 August,2023 03:17 pm
The index gained 578.13 points from yesterday’s close of 48,764.55 points to 49,342.68 points
(Web Desk) – The Pakistan Stock Exchange (PSX) continued gains as benchmark KSE-100 index on Thursday morning rose above 49,000 mark after six years.
The index gained 578.13 points from yesterday’s close of 48,764.55 points to 49,342.68 points at 11:40am.
According to Arif Habib Corporation, the KSE-100 index had last achieved the milestone was on June 9, 2017.
It said that the stock market had gained 7,686 points, or 18.5 percent, since Pakistan reached an agreement with the International Monetary Fund (IMF).
KSE100 crossed 49k level, six year high level KSE-100 index went up by 374 points (49,139 pts, +0.77%, on intraday basis) DoD ; the 49k level crossed after ~ six years (last seen on June 09, 2017). The market gained 7,686 points (+18.5%) since staff level agreement with the IMF… pic.twitter.com/qQXaMFpfro
— Arif Habib Limited (@ArifHabibLtd) August 3, 2023On Wednesday, the KSE-100 index hit a low of 48,178.89 during intra-day trading, but buying interest revived in late trading.
Index-heavy sectors such as oil and gas exploration, OMCs, chemical, and engineering led the rally.
A mixed trend was witnessed in commercial banks, automobile assemblers, and cement sectors.