KARACHI – Bulls continue to rule the Pakistan Stock Exchange (PSX) as it maintained is record-breaking spree on Monday, the first day of new business week.
During Intra-day trading, the KSE-100 index crossed the 102,000 points mark to create another record as investors are responding positively to political stability and economic reforms in the country.
The 100 index recorded gains of 1,393.42 points till 11:32 to reach all-time high of 102,750.74 points.
There has been an extraordinary bullish trend in the market for several weeks, resulting in the index setting multiple records. Last week, the stock market also achieved the historic milestone of crossing the 100,000-point mark.
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…
