Pakistan Stock Exchange reaches 13-month high

KARACHI: Pakistan Stock Exchange (PSX) touched 13-month high as KSE-100 Index rallied to 41,644 points with a positive change of 728 points, ARY News reported on Monday.

This is the highest PSX level since November 2018.

A total of 222,325,260 shares were traded compared to the trade 140,344,890 shares during the previous day, whereas the value of shares traded during the day stood at Rs 11.3 billion compared to Rs 9.7 billion during last trading day.

Total 377 companies’ transacted shares in the Stock Market today, out of which 255 recorded gain and 100 sustained losses whereas the share price of 22 companies remained unchanged.

Pakistan’s strong economic indicators were endorsed after Bloomberg, the international economic journal in its report on November 20, termed Pakistan stocks ‘world-beating’.

According to Bloomberg’s report, foreign investors have bought $64 million of the nation’s stocks this year, set for the first annual inflow since 2014.

The rally that’s helped Pakistan stocks trounce the rest of the world in the past three months is not done yet, the report read and added that Pakistan Stocks once again become an attractive market for big investors.

The report admits that Pakistan made enough progress on global anti-money laundering and counter-terrorism financing standards in October to escape being placed on a blacklist.