Pakistan Stock Exchange Crosses Historic 58,000 Points Mark
For the first time ever, the Pakistan Stock Exchange (PSX) broke beyond the 58,000-point barrier on Wednesday, according to ARY News.
Experts in the market claim that traders are displaying confidence in the market after the International Monetary Fund (IMF) completed its review with success.
The PSX benchmark KSE-100 index increased by 664 during intraday trade to hit a record high of 58,035 points.
The Pakistan Stock Exchange’s (PSX) KSE-100 index saw a 2000-point rise over the previous week.
The KSE-100 benchmark closed at 49,493 points, according to PSX’s weekly report, which is the highest level in the previous six years. However, the KSE-100 index reached its maximum level at 49520 points, while the lowest weekly level in the stock market was 47,217 points.
The weekly report said that throughout the week, 1.87 billion equities were bought and traded in the market, and PSX’s one-week business value was Rs 55.55 billion.
Nonetheless, at the conclusion of the business week, the market value had climbed by 262 points in just one week, to Rs 7,286 billion.
Over the previous week, the Pakistan Stock Exchange (PSX) had a favorable trend and closed with a 661-point increase.
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