KARACHI – Bulls continue to rule the Pakistan Stock Exchange (PSX) on the last trading of the business week, Friday, amid political stability and anticipations regarding cut in policy rate.
During intraday trading, the KSE-100 index gained 1,077 points to breach the 90,000 points ceiling for the first time in history.
A day earlier, the 100 index benchmark closed at 88,945.98 after gaining 1,751 points amid intensive trading activity by investors.
Experts have attributed positive momentum in stocks to political stability, the successful Shanghai Cooperation Organisation (SCO) summit, local mutual fund buying and anticipation of cut in policy rate.
On Wednesday, shares at the Pakistan Stock Exchange (PSX) also reached a new all-time high on Wednesday by the benchmark KSE-100 index crossing the 87,000-point barrier.
The index closed at 87,194.53 points, up by 727.96 points or 0.84pc, from the previous close of 86,466.57 points. The index reached an intraday high of 87,309.22 points.
As many as 447 companies had transacted their shares in the stock market, 214 of them recorded gains and 173 sustained losses, whereas the share price of 60 companies remained unchanged.
The three top trading companies were KEL with 207,635,816 shares at Rs 4.67 per share, WorldCall Telecom with 42,917,587 shares at Rs 1.29 per share and Pak International Bulk with 33,969,303 shares at Rs 5.96 per share.
