Pakistan Stock Exchange scales all-time high amid brisk buying
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Bulls run riot at the Pakistan Stock Exchange (PSX) on Friday as the bourse surpassed the highest-ever high of 99,000 points during trading in opening session, reported 24NewsHD TV channel.
The PSX's benchmark KSE-100 index jumped by 2,290 points or 2.25 percent to climb to 99,618 points during the intra-day trade, up from the previous close of 97,328.39 points.
Experts said that investors weighed drop in government bond yields and robust economic data for current account surplus, remittances, exports, and foreign direct investment.
They further said that surging foreign exchange reserves and speculations over government decisions on economic reforms and privatization played a catalyst role in the record surge at PSX.
The government generated Rs350 billion through the auction of Pakistan Investment Bonds (PIBs), exceeding the target of Rs300 billion, with yields on five-year and 10-year papers falling to their lowest levels since March 2022.
On Thursday, Stock Exchange (PSX) had skyrocketed to unprecedented heights as the KSE-100 index shattered the previous record, surging past the 97,000 mark for the first time in history.
Reporter Ayaz Rana