The bulls were on the rampage at the Pakistan Stock Exchange as share prices soared by over 600 points to smash through the 51,000 barrier by Monday noon, reported 24NewsHD TV channel.
The KSE-100 index carried forward its bullish sentiments increasing by more 650 points taking the index to 51,382.71 from 50,731.86, the highest in six years
Despite the positive trend, analysts cautioned that the value of the stock market currently is still far below what was achieved in 2017, despite having a similar trade volume.
The last time, the index traded above the 50,000 mark was in 2017 due to improving investor sentiments after the China-Pakistan Economic Corridor— unveiled in 2013 — picked up speed.
Major activity has been reported in sectors such as commercial banking, power, fertiliser, cement, exploration and production in the month of October.
Reporter Ashraf Khan