KARACHI – Bulls continue to rule the Pakistan Stock Exchange (PSX) on Friday as the KSE-100 index crossed the 59,000 barrier for the first time in its history.
It hit the all-time high-level during intraday trading as the benchmark index reached 59,318 points, up by 418.91 points at 11:34am as compared to yesterday’s close of 58,899.84 points.
All sectors, including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs and technology and communication witnesses surge in buying.
On Thursday, bulls had also maintained their momentum, as the benchmark index settled at 58,899.84, up by 701.08 points or 1.20%.
The stock market has been witnessing upward trend after the Pakistani authorities and the International Monetary Fund (IMF) reached a staff-level agreement on the first review under the nine-month $3 billion Stand-By Arrangement (SBA) last week.
More to follow…
