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Tuesday, November 5, 2024

Home Business PSX continues record-breaking spree, breaches 70,000 ceiling

PSX continues record-breaking spree, breaches 70,000 ceiling

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ISLAMABAD – Pakistan Stock Exchange (PSX) on Tuesday continued its record-breaking streak as the KSE-100 index crossed the 70,000 points milestone.

During intra-day trading, the stocks gained 758.37 points to reach 70,378.55 points for the first time in history of Pakistan as investors remained buoyant amid possible cut in interest rate and hopes of investment from Saudi Arabia.

Pakistan and Saudi Arabia have pledged to fasten first wave of an investment package worth $5 billion, according to a join statement issued after Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince Mohammed bin Salman in Makkah.

The statement said the Kingdom will expedite its $5 billion investment in Pakistan.

Sharif called on Saudi Crown Prince Mohammed bin Salman at the Iftar dinner and discussed bilateral relations and matters of mutual interest with him.

More to follow…