Pakistan Stock Exchange rises to historic 96,000 mark
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The Pakistan Stock Exchange (PSX) on Wednesday sped past the 96,000 historic mark in a flash as the trading opened on Wednesday amid all-round buying by the investors, reported 24NewsHD TV channel.
At the start of the trading, the benchmark KSE-100 index soared by 427.80 points or 0.44 percent to reach the 96,284.46.
Analysts attributed the positive sentiments at the Pakistan Stock Exchange to the government’s encouraging statement about its negotiations with the International Monetary Fund (IMF) and the finance minister’s dismissal of a mini-budget.
On Tuesday, KSE-100 index had gained 861 points or 0.91 percent to settle at 95,856.67 points at the closing of the business.
A total of 830.93 million shares were traded during Tuesday at the PSX, compared with 765.2 million shares during the previous trading session.
The price of shares stood at Rs30.01 billion as against Rs23.92 billion on the previous trading day at the stock market.
It is pertinent to mention here that American monthly Bloomberg magazine forecasted a vigorous 27 percent growth for Pakistan Stock Exchange by the end of next year, thanks to stabilizing economic indicators and a steady currency as key drivers.
It highlighted that the Pakistan Stock Exchange-100 Index ranked as the second-best performer globally this year, underscoring its recent resilience.
Reporter: Ayaz Rana