Stock market trading above 86,000 points mark

KARACHI: The Pakistan Stock Exchange (PSX) has achieved yet another milestone on Wednesday with the index trading about 86,000 points mark.

The benchmark KSE-100 index gained 652.53 points before noon, to hover around 86,274.37 points by 11:35 AM. According to market analysts, the bullish momentum is primarily fuelled by dropping inflation as well as expected lower bond yields. Moreover, overall improving economic factors are also lending confidence to the market.

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Most of this upward drive comes from the oil and gas sectors, through higher earnings as well as better performance.

Yesterday (Tuesday), the PSX had achieved a historic first to trade above 85,000 points, which was surpassed within an hour of trading on Wednesday.

Around 11:45, the index looked like this: