Stock market pushes upwards, crosses 63,000 points

stock market

KARACHI: Pakistan Stock Exchange (PSX) began the trading week on a bullish note, charging through 62,000 points mark, reaching an all-time high on Monday. Today (Tuesday), the share market showed fluctuations but managed to stabilise. Wednesday brought yet another note of growth for the index, when the benchmark KSE-110 index crossed 63,000 points mark.

The benchmark KSE-100 index opened at 62,956.02 points and quickly jumped over 300 points to cross 63,000 points. By noon, the share market had grown 555.46 points, to hover around 63,511.48 points.

Fuel prices in Pakistan likely to be reduced

Experts are of the opinion that the index is charging based on the expectations of a reduction in interest rates by the central bank. Furthermore, the expectations of the IMF green-lighting the tranche this week has added to investor confidence, as have the announcements of Pakistan’s recent MoU signings with the UAE.

The growth in the market came from multiple sectors showing overall improvement in investor confidence.

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