Bulls lead PSX to cross historic 80,000 mark
- By Anjum Wahab -
- Jun 21, 2024
The Pakistan Stock Exchange (PSX) on Friday shattered another record as it crossed the 80,000 mark during intraday trading.
The benchmark KSE-100 reached an all-time high of 80,001 from the previous close of 78,801 points.
The KSE-100 index gained 1,199 points around 09.50am.
Analysts attributed the upward trajectory to the government’s willingness to unlock a deal with the International Monetary Fund (IMF) after the budget.
Analysts expect the budget for the fiscal year to June 2025 to set ambitious fiscal targets as it looks to strengthen the case for a new bailout deal with the International Monetary Fund (IMF).
Read more: Pakistan’s foreign exchange reserves stand at US$14.41bn
On Thursday, the 100-index of the Pakistan Stock Exchange (PSX) gained 2,094.76 points to close at historic level of 78,801.53 points against 76,706.77 points the previous trading day.
A total of 452,637,253 shares valuing Rs.20.675 billion were traded during the day as compared to 395,897,996 shares valuing Rs. 21.366 billion the last day.
Some 447 companies transacted their shares in the stock market; 256 of them recorded gains and 133 sustained losses, whereas the share prices of 58 remained unchanged.