- Web Desk
- 9 Hours ago
Pakistan stock market witnesses remarkable surge
- Web Desk
- Oct 19, 2023
KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed a remarkable surge in its trading activities, culminating in a staggering 933-point gain.
The stock market’s latest performance marked a historic milestone, breaching the psychological threshold of 50,000 points.
The PSX achieved a remarkable milestone, closing at 50,365 points, bolstering investors’ confidence in the country’s financial market.
The PSX index exhibited a robust increase of 1.89%, signifying a substantial upturn in market sentiment.
Market analysts and experts attributed this surge to various economic factors, including improved investors’ confidence, positive corporate earnings reports, and a favourable economic outlook.
This notable rally reflects the resilience of Pakistan’s financial sector amid domestic and international economic challenges.
The PSX’s highest level in recent memory, reaching a record-breaking 50,399 points, serves as a testament to the market’s resilience and ability to attract investors.
The surge suggests that Pakistan’s stock market remains a viable investment option and bodes well for the country’s economic prospects.
On the other hand, the Pakistani rupee registered gains against the US dollar, appreciating 0.82 percent uring the opening hours of trading in the inter-bank market on Thursday.
At midday, the rupee was hovering at 278.02, an increase of Rs2.27, in the inter-bank market.