KARACHI – Pakistan Stock Exchange (PSX) advanced its upward march and shattered all records in outgoing week as it climbed over 470 points as investors continue to buy amid encouraging economic outlook.
On Wednesday, Stock Exchange surapssed all previous record, crossing 61,000 point mark.
The 100-index gained 470 points in the opening hours of trading to reach 61,200 points.
In the last session, the Pakistan Stock Exchange gained 918 points to reach 60,730 points, its highest ever mark.
The market rallied positively today and the gains are being attributed to successful first review with the International Monetary Fund (IMF).
Experts also linked the bullish trend with anticipation of rate cut, given the expected slowdown in inflation over the next few months. Furthermore, clarity on upcoming elections was also contributing to this trend.
The incumbent caretaker setup has also taken stern measures which are \supporting the ongoing rally, Pakistani currency however continues to remain under pressure in wake of import payments.
Pakistani rupee gains against US dollar in interbank trading
