PSX posts impressive hike as stability returns to power corners

KARACHI: The Pakistan Stock Exchange (PSX) touched new heights yesterday (Wednesday), closing at the highest-ever level of 87,194.53 points. Despite some fluctuations, the market continued to grow as market sentiment improved.

PSX trading above 87,000 points for the first time in history

The climb in the market came despite the selling pressures. The bulk of the hike came from the telecom and FMCG sectors, but the improvement was seen across all sectors. PSX is expected to continue the positive momentum today, although some profit-taking might also take place.

The benchmark KSE-100 index have been showing positive momentum since the start of this week. On Monday, the index had gained 807.42 points.

PSX hits record high amid growing political stability

On Tuesday as well, the bourse had gained over 400 points, after stability returned to the power corners. The passage of the 26^th constitutional amendment followed by the nomination of the next chief justice of Pakistan brought much needed confidence boost to the market.