KARACHI – The Pakistan Stock Exchange (PSX) registered significant gains on opening day of the new business week as it has achieved another historic milestone on Monday amid positive economic indicators that have boosted investor confidence.
The KSE-100 index gained 981.32 points during intraday trading to reach all-time high of 155,258.51 points compared to previous close of 154,277.19 points.
The upward trajectory has offset the concerns over risk to national economy due to ongoing devastating floods that have damaged farmlands.
Today’s gains mark the seventh consecutive bullish day as investors have posted trust on the government policies.
It also comes as Pakistani rupee continued to strengthen against the US dollar in both interbank on open markets.
In previous session on Friday, KSE-100 Index recorded bullish trend, gaining 1,611.47 more points, a positive change of 1.06 percent, closing at 154,277.19 points.
A total of 1,078,410,471 shares worth Rs59.949 billion were traded during the day.
As many as 479 companies transacted their shares in the stock market, 239 of them recorded gains and 210 sustained losses, whereas the share price of 30 companies remained unchanged.
Last week, the 2nd Pakistan-China B2B Investment Conference, organized by the Embassy of Pakistan in Beijing together with Pakistan Consulates in Chengdu, Guangzhou, Hong Kong and Shanghai, concluded with landmark outcomes.
“In just one day, the Conference facilitated 2,500–3,000 curated B2B meetings across 9 sectors and 40 sub-sectors, resulting in the signing of 21 Joint Venture Agreements valued at USD 1.5 billion and more than 100 MoUs worth over USD 7 billion,” said an official announcement.
The success of the Conference was made possible by the guidance and support of Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar, along with the dedicated contributions of the Special Investment Facilitation Council, Board of Investment, Ministry of Commerce, Ministry of Industries & Production, and provincial departments.
