KARACHI: Pakistan Stock Exchange hits a historic record, during trading in the stock market on the fifth and final day of the business week, the 100 Index reached a peak of 95,275 points. However, by the end of the trading day, the 100 Index closed at 94,763 points.
Remember that at the end of the last business day, the 100 index closed at the level of 94 thousand 191 points.
Rs2,824,8496,0 shares worth Rs8,067,1367,643 rupees were transacted in the stock market today.
The Pakistan Stock Exchange (PSX) on Friday continued its momentum as investors responded positively to reported progress in ongoing talks with the global lender.
A buying momentum was witnessed at the PSX’s benchmark KSE-100 Index gaining by 594 points to hover at record-breaking level of 94,786 points, surpassing the previous 94,068 points threshold.
The stock market’s uptick trajectory started early at the closing business day as the KSE-100 Index experienced a steady rise.
The surge reflects investor optimism around a potential International Monetary Fund (IMF) agreement, which could bring greater fiscal stability and support to the country’s economy.
Experts said that lower interest rates and controlled trade deficits are also the main key factors in the positive momentum of the market.
Separately, Gold prices in Pakistan increased by Rs1300 per tola on Friday, reaching Rs267,700 per tola, as international rates continued to rise.
According to the All Pakistan Gems and Jewelers Association, 10-gram gold is being sold at Rs229,510 in the local market after an increase of Rs1300.
The international rate of gold increased on Friday. As per APGJSA, the rate was $2,565 per ounce (with a premium of $20) and was up by $13 during the day.
