KARACHI – The Pakistan Stock Exchange (PSX) created another record on Thursday as bull continued to rule the market for second consecutive day following the end of the PTI protest in Islamabad.
During intra-day trading, the KSE-100 index smashed past 100,000 barrier for first time history. It touched 100,540.29 mark after witnessing gains of 1271.04 points as compared to previous close of 99,269.25.
A couple of days ago, the stock market crashed due to political instability as the 100-index plunged by over 3,500 points in single day.
However, the PSX roared back after the PTI announced an abrupt end to protest as KSE-100 index jumped by over 4,600 points on Wednesday to close at 99,269.25 points.
Experts have also attributed the ongoing positive trend to several factors, including the government’s commitment to implement reforms in the country in order to boost revenue generation.
Furthermore, the Ministry of Finance, in its monthly report, has predicted that inflation will decrease to 5.8%-6.8% in November and it will slow down further in December.
Commercial banks, fertilisers, and oil and gas exploration are the top performers, while Fauji Fertilizer and United Bank Ltd also played a key role in historic surge in stock market.
This is a developing story….
