KARACHI – Pakistan Stock Exchange continued positive momentum, crossing 86,000 mark for first time to another all-time high on upbeat data announcement of Saudi Arabia’s investment.
In early hours of trading on October 9, KSE 100 index hovers around 86,161, with single day gain of 497 points or 0.58%. The index reached a high of 86,291.23 and a low of 85,823.81 during the trading session. Trading volume has been recorded at 50,136,437 shares.
Several factors are helping the market to go up including expectations of a notable reduction in interest rates due to decreasing inflation, and opening of foreign investment avenues following Pakistan’s participation in the IMF program, and potential investments from Saudi Arabia and Gulf countries in the oil and gas sector.
This year, foreign investment moved up by 17%, and with the trade deficit stabilising, confidence among foreign institutions and other investors in sectors like oil, gas, fertilizers, and banking has significantly increased.
Over the past year, the index has seen a remarkable 80.55% increase, while year-to-date (YTD), it has risen by 33.25%. The previous close was 85,663.97, and the day’s range has been between 85,823.81 and 86,291.23.
Pakistan Stock Exchange KSE-100 Index surges past 85,000 in record rally
