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Friday, November 22, 2024

Home Business Pakistan stocks set new record as KSE-100 crosses 69,000 milestone

Pakistan stocks set new record as KSE-100 crosses 69,000 milestone

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KARACHI – Trading floor at the Pakistan Stock Exchange (PSX) is being ruled by bulls on the opening day of the new business week to set new records.

During intraday trading on Monday, the KSE-100 index crossed the 69,000 points milestone for the first time in history. It has gained 597.80 points till 11:39 am to reach 69,014.58 amid hopes of witnessing more gains till closing of the market.

The development comes as the national economy shows positive signs of recovery and investors are anticipating cut in interest rate by the State Bank of Pakistan.

It also comes after Saudi Crown Prince Mohammed bin Salman hosted Prime Minister Shehbaz Sharif at an iftar dinner in Makkah amid hopes that Kingdom would make an investment of $1 billion in Reko Diq project.

More to follow…