PSX closes week in green with 868-point gain

KARACHI: The Pakistan Stock Exchange (PSX) experienced a significant surge on Friday, as investor sentiment soared following positive developments regarding the International Monetary Fund (IMF) and the United Arab Emirates (UAE).

The benchmark KSE-100 index surpassed the 76,000 mark for the first time in history during trading.

At the close of the trading session, the KSE-100 index stood at 75,983.03 points, marking an increase of 868.56 points or 1.16 per cent from the previous day’s close of 75,114 points on Thursday.

KSE-100 closing (May 24, 2024)

The trading day was characterised by across-the-board buying, with key sectors such as automobile assemblers, cement, chemicals, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and refineries all witnessing significant gains.

During the last trading day of the week, the KSE-100 index reached an intraday high of 76,248.75 points and dipped to a low of 75,263.05 points. The total trading volume was robust, with 310,418,114 shares changing hands.

This unprecedented rise reflects renewed investor confidence driven by the anticipation of economic stability and potential growth, bolstered by the IMF’s involvement and supportive measures from the UAE.

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