It is pertinent to mention here that, the last time the index traded above 52,000 points was in 2017 during PML-N’s tenure.
Pakistan Stock Exchange crosses 55,000-point mark in intraday trade
- By Web Desk -
- Nov 10, 2023
The Pakistan Stock Exchange (PSX) achieved another remarkable milestone on Friday as its benchmark KSE-100 index surged past the 55,000-point mark, setting an all-time high record, during intraday trading.
This surge followed a gain of over 833 points, driven by several positive factors, including clarity on the election date and expectations of a favorable review from the International Monetary Fund (IMF).
KSE100 crossed 55k level trading at all time high
KSE-100 index went up by 841 points (55,102 pts, +1.55%, on intraday basis) DoD ; crossing 55k level.@Pakstockexgltd#KSE100 #PSX #Equities #Pakistan pic.twitter.com/fipHcVda5d
— Arif Habib Limited (@ArifHabibLtd) November 10, 2023
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The Pakistan Stock Exchange (PSX) 100 index was recorded trading at 55,094 at 10 a.m on Friday, the last day of the trading week.
On Tuesday, the KSE-100 index crossed the 54,000 points mark.
Head of equity at Intermarket Securities, Raza Jafri, attributed the rally to strong domestic institutional buying and reducing Pakistan Investment Bonds (PIBs) yields.