Bulls toss index to over 95,000 at Karachi Stock Exchange
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Pakistan Stock Exchange (PSX) KSE-100 Index on Friday gained 872.89 points or 0.92 percent achieving the 95,000 milestone for the first time in history, reported 24NewsHD TV channel.
A little before close of trading on Friday, the benchmark KSE-100 index shot up by 872.89 points to 95,064.78 points.
Expert Amin Yousaf weighed that some companies showed positive output which attracted investors to buy shares.
He further said that market volume also turned positive while all economic indicators were positive.
Experts attributed this rise to strong macroeconomic indicators, such as reduced interest rates and a controlled trade deficit, which are boosting market confidence.
Moreover, the Finance Division reported to the International Monetary Fund (IMF) regarding debt, external financing, and a $12.5 billion rollover from allied nations, which is expected to influence market sentiment positively.
Earlier, on Thursday the KSE-100 index gained 836.47 points, or 0.9 percent to settle at 94,191.89 points at the closing of the stock market.
Reporters: Kawish Memon and Ayaz Raza