PSX welcomes new year with two-and-a-half-year high trade

KARACHI: With the advent of new year, Friday trade in Pakistan Stock Exchange saw historic bullish attitude as market jumped its two-and-a-half-year peak as the benchmark KSE-100 index closing at 44,434 points, ARY News reported.

On the first day of new decade, KSE-100 recorded 1.55 per cent surge in stocks taking market capitalization up by Rs95 billion.

The bourse in the preceding year grew 7pc in the course of 12 months while the top it scored in terms of benchmark index was 43,955 points.

The market volume of shares traded in the year 2020 were 83 billion translating to Rs31 trillion overall.

READ: Sigh of relief: December inflation eases to 8%

Separately today, marking the beginning of the new year with all indicators exhibiting recovery, it may be noted that even inflation eased to 8pc in December from 8.3pc recorded last month on the back of a slight drop in prices of food items, according to the Pakistan Bureau of Statics’ (PBS).

Inflation increased by 0.7pc in the month under review as compared to an increase of 0.8pc last month and a decrease of 0.3pc in December 2019.