PSX witnesses surge, crosses 51,000 barrier

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a huge surge, the KSE-100 index crossed the psychological barrier of 51,000 for the second time in history.

The Pakistan Stock Market continues to witness an upward trend on the first day of the business week, with a more than 600 points rise in the KSE-100 index.

The 600-point rise on the first day of the business week pushed the threshold of 51,000, reaching 51,216 points.

Prior to this, the KSE-100 benchmark index of the Pakistan Stock Exchange on Friday went above the 50,500 points mark; the index last seen at 50,592 points level was in May 2017.

According to the reports, the Karachi Stock Exchange (KSE-100) index gained 207 points and is currently trading at 50,572 points.

Yesterday, the Pakistan Stock Exchange’s benchmark KSE-100 index went above the 50,000 mark, a milestone that analysts said occurred after six years.

The benchmark Karachi Stock Exchange (KSE) 100 Index gained 600 points to trade at 50,025 points in intraday trading.

The 50k level crossed after six years (last seen on June 07, 2017).

Meanwhile, the Pakistani rupee bounced back against the US dollar in the interbank market on Thursday.

The dollar which gained Rs1 against the PKR in the interbank on Wednesday, depreciated by Rs1.96 on the early trading on Thursday afternoon.