During Wednesday’s early morning trade, the Pakistan Stock Exchange (PSX) broke through to reach a new milestone: 72,000.
The benchmark KSE-100 index increased in value during intraday trading, rising 976.49 points, or 1.37%, to end at 72,335.89 points, up from 71,359.41 points the previous day.
Stocks from the previous day finished in mixed trade, with traders reporting that profit-taking in the middle part of the day reversed early gains fueled by a surge in the cement sector.
To conclude at 71,359.41 points, the KSE 100-share index dropped by 74.06 points, or 0.10%.
According to Muhammad Sohail, CEO of Topline Securities, the KSE-100 index has broken yet another record. He stated that following a record current account surplus, consumer inflation is anticipated to decline.
“Investors anticipate that the interest rate will go down in the coming months,” Sohail said.
“Stable macros, rate-cut expectations, and hopes for a new IMF (International Monetary Fund) program are driving the market,” stated Samiullah Tariq, head of research at Pak-Kuwait Investment Company.
