PSX adds to yesterday’s rally, touches record high

KARACHI: The Pakistan Stock Exchange (PSX) amassed over 1,700 points on Wednesday morning, before losing some of these gains to profit taking as the trading progressed.

The benchmark KSE-100 index opened at Tuesday’s closing of 128,199.42 points, and instantly jumped over 400 points. As trading continued, the market continued to grow steadily maintaining bullish momentum, until reaching the morning’s highest at 129,951.88 points.

Around noon, the market began to stabilise and lost some of these gains to hover at 129,495.15 points around 12:30 PM.

The rally comes partly due to the prevalent optimism associated with the new fiscal year and stability after budget announcement. Apart from that, the investor sentiment also seems to be returning that was eroded due to the Iran-Israel conflict in June.

Also read: KSE-100 index soars to a new historic high on new FY