Pakistan's Stock Exchange Makes New History: KSE-100 Index Crosses 85,000 Points, Signaling Strong Economic Confidence
- By Web Desk -
- Oct 08, 2024
KARACHI: The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 753.68 more points, a positive change of 0.89 percent, reaching 85,663.98 points against 84,910.30 points on the last trading day, ARY News reported.
A total of 506,565,368 shares were traded during the day as compared to 449,507,635 shares the previous trading day, whereas the price of shares stood at Rs 33.049 billion against Rs.30.196 billion on the last trading day.
As many as 448 companies transacted their shares in the stock market, 193 of them recorded gains, and 194 sustained losses, whereas the share price of 61 companies remained unchanged.
A day earlier, Positive sentiments prevailed over the 100-Index of the PSX as it continued with the bullish trend on Monday, gaining 1,378.34 more points, a positive change of 1.65 percent, reaching an all-time high level of 84,910.30 points against 83,531.96 points on the last trading day.
A total of 449,507,635 shares were traded during the day as compared to 381,529,555 shares the previous trading day, whereas the price of shares stood at Rs 30.196 billion against Rs 20.523 billion on the last trading day.
As many as 448 companies transacted their shares in the stock market, 224 of them recorded gains and 86 sustained losses, whereas the share price of 3 companies remained unchanged.
The PSX 100-index reaching 85,000 points is a historical achievement, marking the highest level ever attained by the stock market in Pakistan. This indicates a significant recovery and growth potential in the country’s economy, which is crucial for attracting local and foreign investments.
The increase of 513 points reflects growing investor confidence in Pakistan’s economic policies and overall stability. Increased confidence among investors, especially in the face of recent economic challenges, is a strong signal for potential investors, boosting both local and foreign investment inflows.