KARACHI – Pakistan Stock Exchange unlocks another milestone on Thursday as benchmark KSE-100 index reached its all-time high of 67,756 amid heavy buying in cement and steel sectors.
As per the available data of PSX portal, the market open with positive sentiment in hope of low monetary cycle, and with progress on government’s plan to privatise State-Owned Enterprises (SOEs).
At close, the benchmark index settled at 67,756.03, with an increase of 869.77 points that equates to 1.30 percent.
Cement sales and exports saw increase, as investors are getting their confidence back to improve further due to progress in privatization and foreign portfolio investment in government papers. Cement stocks are in the spotlight amid expectations of a rate cut in the coming months.
Privatisation Commission invited expressions of interest (EOIs) for divestment of Pakistan International Airlines Corporation Limited (PIACL) through privatization.
In global markets, Asian shares followed Wall Street lower as US yields remained near four-month highs.
