Bulls dominate PSX as KSE-100 crosses 50,000 level after six years
Business
The benchmark index gains 273 points in intra-day trading around 11:54am
KARACHI (Web Desk) - Bulls dominated the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index crossed 50,000 level after six years on Tuesday.
At 11:23am, the benchmark index was trading at 50,017, up by 286 points or 0.58 per cent and 273 around 11:54am. However, it came below the 50,000 level later on.
Analysts are attributing positive economic indicators and appreciation of the Pakistani rupee to the positive sentiments in the stocks.
A mixed trend was witnessed in the index-heavy sectors including automobile assemblers, commercial banks, cement, chemical, OMCs and oil and gas exploration companies.
On Monday, the PSX continued its upward trajectory for the 11th straight session, with the benchmark KSE-100 Index closed at 49,731.35 points.
