New high for PSX; crosses 94,000 points mark

KARACHI: The Pakistan Stock Exchange (PSX) has crossed yet another milestone, breaching the 94,000 points mark on Thursday afternoon.

Around 3:30 PM, the benchmark KSE-100 index was trading around 94,253.48 points, with 898.06 points gains from opening position of 93,355.42 points.

Pakistan’s stock market has been on a bullish run since the political stability returned to power corners and macroeconomic indicators began to show signs of stability. The announcement of MSCI adding more companies to the frontier market index, improved foreign investors’ confidence in the index.

Trading began with a nearly 500 points jump, and the lowest of the day also remained over 400 points up the opening. The gains in the market were spread across multiple sectors, showing an overall improvement in the market and the investor sentiment.

Trading volumes also showed uptick along with the value gains. Close to 4 PM, over 254 million shares worth over Rs 20 billion had exchanged hands on Thursday.

Also read: Stock market starts to stabilise after historic highs