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Share prices skyrocket as Pakistan Stock Exchange index hits historic high

By News Desk

March 28, 2024 10:36 AM


Share prices skyrocket as Pakistan Stock Exchange index hits historic high

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The history was rewritten at the Pakistani Stock Exchange (PSX) on Thursday when the bulls went berserk tossing the index over all-time high of 67,000, reported 24NewsHD TV channel.

As the business opened, the buyers came in with force taking the benchmark KSE-100 index to the highest-over point of 67,184.25, up by 636 points. At the close of business, the index settled at 67,142 up by 594 points.

According to experts, reports about a new IMF loan and the proposed privatization of the PIA proved to be triggers for the bull-run.

On Wednesday, Pakistan Stock Exchange had also hit a new milestone and closed on its highest-ever level in the history on the back of healthy buying by both local and foreign investors coupled with institutional support.

The KSE-100 index had surged by 641.51 points or 0.97 percent and crossed 66,000 psychological barrier to close at its highest-ever level of 66,547.79 points surpassing its previous highest closing level of 66,426.78 points seen on December 12, 2023.

Trading activities also improved on Wednesday as total daily volumes on ready counter increased to 354.597 million shares as compared to 303.710 million shares traded a day earlier; however total daily traded value on the ready counter declined to Rs11.884 billion against previous session’s Rs12.078 billion.

The foreign investors also remained net buyers of shares worth $337,973. Total market capitalization increased by Rs 81 billion to Rs 9.346 trillion. Out of total 346 active scrips, 179 closed in positive and 152 in negative while the value of 15 stocks remained unchanged.

 

Reporter Kawish Memon


News Desk


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