Bulls continue to maul PSX as KSE-100 index surpasses 80,000 mark
Business
It is the second successive day when the bull ran the market
KARACHI (Dunya News) – Bullish trend continued in the Pakistan Stock Exchange (PSX) as the KSE-100 index set yet another record when it crossed 80,000 points mark on Friday.
The last day of the business week also saw a strong rally in the PSX as the KSE-100 index soared to 80,001 points with an increase of 1,199 points.
It is the second successive day when the bull ran the market. On Thursday, the PSX closed at 78,802 points, setting a record after an increase of 2,095 points.
Meanwhile, the US dollar remained stable in the interbank trading with 278.60 rupees.
Analysts say the bright prospects of getting the International Monetary Fund (IMF) loan have boosted the confidence of investors, which has resulted in stock surge. They say investors are optimistic about the macroeconomic stability as the budget has been prepared in line with the requirement of the lender.
Thursday's Development
The PSX on Thursday set a new record as the KSE-100 index soared past the 78,000 mark. It saw a sharp rise on the first day of the current business week as the market had been closed since Monday on account of Eidul Azha holidays.
Bulls returned since the start of trading and the KSE-100 index gained 1,315 points to 78,073 around 11am. Later, it closed at 78,802 points.
It may be noted that on the last day of the previous business week, the KSE-100 Index closed at 76,707 points.
