KARACHI – Pakistan Stock Exchange (PSX) advanced its positive trajectory on Tuesday, as the benchmark KSE-100 Index crossed 60,000 points level for the first time in history.
The bullish trend gains traction in stock market as traders cashed in on the index rising by 405 points. In early hours of trading, the benchmark KSE-100 index was at 60,460 points following addition of over 600 points. On Monday, KSE-100 Index was closed at 59,811.
In last four weeks, the KSE-100 index soared by more than 8,000 points.
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.
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