Sky is the limit as index smashes through 66,000-mark at Pakistan Stock Exchange

Bulls continued to dominate the trading at Pakistan Stock Exchange (PSX) on Friday as the share prices soared to a new historic high taking the index to over the 66,000-mark, reported 24NewsHD TV channel.

The benchmark KSE-100 index surged by massive 1,505 points and ended the day at 66,223 with across-the-board aggressive buying by investors.

Buying was witnessed at all sectors in index-heavy sectors including cement, chemical, commercial banks, fertiliser, OMCs and power generation and distribution sectors.

On Thursday, the Pakistan Stock Exchange benchmark index had settled at 64,718.08, up by 800.35 points or 1.25%.

At around 12pm during trading on Thursday, the KSE-100 was hovering at 64,958.10 level, an increase of over 1,000 points or 1.6%. However, profit-taking pushed the index to an intra-day low of 63,853.04. Nevertheless, bulls returned to the bourse in the later part of trading, and by 3pm, the index was hovering at 64,907.97 with an intra-day gain of 990.25 points or 1.55%.

Average traded volume at PSX witnessed a 2.5-years high

Average daily traded volume increased by 28.2% DoD to 1,263mn shares (highest since 10th Jun’21) while Average daily traded value also increased by 3.4% DoD to PKR 36.3bn (highest since 14th Jun’21).@Pakstockexgltd… pic.twitter.com/UdiWBul0YZ

— Arif Habib Limited (@ArifHabibLtd) December 7, 2023

Reporter Baseem Iftikhar