KARACHI – Pakistan Stock Exchange (PSX) continues its record-making spree on Monday as the KSE-100 index cruised past 62,000 points level.
During intraday trading at 11:24am, the current index stands at 62,688.61 points after witnessing gains of 997.36 points.
Experts are of the view that seasonality factor remains favourable for higher stock prices into the end of January and they hoped that the market would hit 65,000 mark.
The rollover of $3 billion in Saudi deposits in the State Bank of Pakistan (SBP), increase in exports and remittances and a court order against the collection of windfall tax from banks played key role in triggering positive sentiments among investors.
Last week, the International Monetary Fund (IMF) top official had also appreciated the Pakistan’s efforts for increasing tax collection and tax base.
