KARACHI: The Pakistan Stock Exchange (PSX) sustained its bullish trend as traders capitalized on a 405-point surge in the index, which crossed the historic 60,000 mark on Tuesday.
The KSE-100 index has hiked by more than 8,000 points in November alone.
At 10:19 am, the KSE-100 index, a benchmark in the stock market, reached 60,460 points, marking a notable increase of 648 points from the previous day’s closing at 59,811.
According to a capital market expert, Muhammad Saad Ali, the KSE-100 has witnessed a remarkable 48% surge since June. Commenting on the recent positive momentum, Saad Ali attributed the positive trend to factors such as the positive review from the International Monetary Fund (IMF), the stabilization of the PKR-USD exchange rate, and favorable macroeconomic data reinforcing expectations for rate cuts in the December Monetary Policy Committee (MPC). Additionally, global pressures on oil prices have contributed to the overall positive sentiment in the market.
The stock market exhibited a positive trend on the preceding Monday, continuing its record-breaking run. The benchmark index concluded below the 60,000-point threshold, gaining 725 points or 1.23% to close at 59,811.34.
During Monday’s trading session, the index experienced a range of 896.77 points, reaching a high of 59,896.08 (+809.73) and a low of 58,999.31 (-87.04) points. The total volume of shares traded for the KSE-100 Index amounted to 276.858 million.
