97,000 and going – another historic day in PSX
Business
With an increase of 1,694 points, the KSE-100 index touched 97,241
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) crossed another milestone on Thursday when it surpassed 97,000 mark amid positive economic indicators.
With an increase of 1,694 points, the KSE-100 index touched 97,241 which is close to all-time high of 97,270 minutes earlier.
Earlier, during morning trading hours, the stocks slightly dipped. With a reduction of 145 points, the KSE-100 index recorded 95,371 points.
A day earlier (Wednesday), it hovered around 96,700 points.
As for Thursday's currency rate, dollar with 4 paisa cut was traded at 278.
The PSX on Wednesday continued to witness bull surge on the back of encouraging statements from the International Monetary Fund (IMF) mission during its recent visit.
The benchmark KSE-100 index traded at 96,700 points after gaining 850 points. Multiple sectors such as cement, commercial banks, oil and gas exploration companies, OMCs, pharmaceuticals and power generation firms generously participated in trading.
The sustained bullish momentum in the market is believed to be caused by several factors which mainly include rebuttal of news by Finance Minsiter Muhammad Aurangzeb regarding possibility of a mini-budget.
Besides, an increase in Pakistan’s Foreign Exchange Reserves also helped elevate investors’ confidence.
