KARACHI (Dunya News) - The Pakistan Stock Exchange (PSX) on Saturday released its weekly updates, highlighting positive trends and achievement of several records.
As the PSX experienced a bullish trend during the outgoing business week, the KSE-100 Index increased by 1,951 points and closed at 85,483.
Throughout the week, the KSE-100 Index fluctuated within the range of 3,147 points. The index reached its weekly high of 86,451 while its lowest point was 83,303.
In the share market, 2.61 billion shares were traded during the week, with the PSX's weekly trading value reaching Rs148.62 billion. The market capitalization increased from Rs277 billion to Rs11.156 billion.
STOCKS GO THROUGH THE ROOF BY SURPASSING 85,000 MARK
The Pakistan Stock Exchange (PSX) continued its history-making spree this past week with bulls on accelerator.
With 686.5 points gain, the KSE-100 index surged to a record 85,597 points with an increase of 0.81 percent on Tuesday.
The latest upward spree in the stock market is said to be linked with positive sentiment caused by another possible rate cut of 150-200 basis points. The market analysts attribute the bullish trend to improving macroeconomic outlook with prospects of potential policy rate cut soon.
Moreover, due to increased interest in top of the line performing sectors which include automobile assemblers, cement, commercial banks, fertiliser, and oil companies, investors’ confidence has boosted.