Pakistan Stock Exchange crosses historic 60,000 points mark

The Pakistan Stock Exchange (PSX) continued its bullish trend to break another record by crossing 60,000 points for the first time in its history on Tuesday.

The market gained 611 points to reach 60,423 points at 10:00 in the morning on Tuesday.

The market recovered to the 53,000-point mark in early November after a gap of six years, till then its highest level in history.

In addition to the IMF deal, analysts have attributed the performance of the market to fiscal discipline by the government as well as a clampdown on the smuggling and manipulation of the dollar.

According to the weekly report of PSX, the KSE-100 benchmark closed at 49,493 points which is recorded as the highest in the past six years, however, the highest level of the KSE-100 index was recorded at 49520 points, meanwhile, the lowest weekly level in the stock market was 47,217 points.

During the week, a total of 1.87 billion stocks were bought and sold in the market, while PSX’s one-week business value stood at Rs 55.55 billion, the weekly report stated.