KARACHI: The Pakistan stock market continued its unprecedented bullish trend on Friday, crossing the 115,000 points mark for the first time in history.
On the opening of the last business day of the week, the PSX benchmark KSE-100 Index continued yesterday’s rally and surged by 991.94 points, or 0.87%, to reach an intraday high of 115,172.44.
The experts say that a decline in inflation, a surge in remittance inflows, and ongoing government reforms have further strengthened market sentiment.
Yesterday, the PSX benchmark KSE-100 Index soared to a historic high of 114,180.50 points, reflecting a remarkable gain of 3,370.29 points or 3.04 percent.
The market’s upward momentum persisted throughout the session, peaking at an intra-day high of 114,408.62 points.
Pakistan’s foreign reserves remained stable at $16.6 billion
Meanwhile, Pakistan’s foreign reserves remained stable at $16.6 billion.
State Bank of Pakistan’s (SBP) foreign exchange reserves recorded a modest increase of $13 million during the week ending December 6, reaching $12.05 billion, according to data released on Thursday.
The nation’s total liquid foreign reserves now stand at $16.60 billion, comprising $4.55 billion held by commercial banks. However, the central bank did not explain the reasons for citing the small change.
