Pakistan Stock Exchange crosses 56,000-point mark
- By Web Desk -
- Nov 13, 2023
The Pakistan Stock Exchange (PSX) continued a bullish trend and achieved another remarkable milestone on Monday as its benchmark KSE-100 index surged past the 56,000-point mark, setting an all-time high record, during intraday trading.
This surge followed a gain of 618 points, driven by several positive factors, including clarity on the election date and expectations of a favorable review from the International Monetary Fund (IMF).
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The Pakistan Stock Exchange (PSX) 100 index was recorded trading at 56,010 at 10 a.m on Monday, the first day of the business week.
On Friday, the KSE-100 index crossed the 55,000 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.
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.