PSX crosses historic 58,000 points mark

The Pakistan Stock Exchange (PSX) surged past the 58,000-point level for the first time ever on Wednesday, ARY News reported.

According to market experts, traders are showing confidence in the market following a successful review by the International Monetary Fund (IMF).

In the intraday trading, the PSX benchmark KSE-100 index rose by 664 to reach a record high of 58,035 points.

The KSE-100 index of the Pakistan Stock Exchange (PSX) recorded an increase of 2000 points in the past week.

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.

Read more: PSX weekly report: KSE-100 index gains by 126 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.

However, the market capitalization increased by 262 points in a week and stood at Rs 7,286 billion at the end of the business week.

The Pakistan Stock Exchange (PSX) witnessed a positive trend and closed at an increase of 661 points during the past week.