Summary The exchange is growing and hitting benchmarks more often since the past year
KARACHI (Dunya News/Reuters) – Pakistan Stock Exchange 100-index has made history on Friday as it crossed to the highest ever 40,000 points benchmark and hit an all-time high 40,012 points.
The exchange is growing and hitting benchmarks more often since the past year. 100-index grew around 20 percent in one year, according to an estimate.
In June, shares of indigenous companies and organizations posed for their highest weekly gains in the last three years after PSX was included in United States market index provider MSCI’s emerging markets index.
Earlier on Thursday, stocks edged up to a fresh record closing high, led by banking stocks, dealers said.
The benchmark 100-share index of the Pakistan Stock Exchange closed 0.14 percent higher, or 55.72 points, at 39,861.60.
"Bankings stocks performed on the day, which led the market to close at an all-time high," said Hammad Aman, manager, equity sales at Topline Securities Pvt Ltd.
United Bank Ltd gained 3.90 percent, Habib Bank Ltd increased by 0.35 percent and Habib Metropolitain Bank Ltd rose 1.67 percent.
The rupee ended stronger at 104.52/104.59 against the dollar, compared with Tuesday s close of 104.57/104.61.
Overnight rates in the money market fell to 5.85 percent from Tuesday s close of 5.90 percent.
