The surge acts upon a persistent bullish trend, with the upward momentum featured in different factors., reported in The Pakistan Today News.
The Pakistan Stock Exchange (PSX) approached a milestone on Wednesday, with the KSE-100 index crossing the 80,000-point mark during intra-day business trade. At 11.28 AM, it approached 80,193.76 points, boosting 640.88 points from the recent session close of 79,552.88 points.
This surge acts upon a persistent bullish trend, with the index having crossed the 79,000 points mark on Tuesday.
The market’s rising momentum is attributed to elevating global crude oil prices, strong dividend assumptions from the oil regions, and ongoing positive sessions for an International Monetary Fund (IMF) bailout offer.
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The PSX had recently re-expressed its position as the world’s best-performing market in the fiscal year 2023-24, with an 89% rise in local currency statements and 94% in US dollar terms.
The market provided evidence of many record-breaking gains, especially in June 2024, when its capitalization crossed Rs10 trillion.
Before this week, the PSX had enhanced approximately 380 points on the first business day of the new financial year and noticed a substantial 892-point rise on Tuesday.
The momentum continued to Wednesday, reaching to finale in the amazing exceeding of the 80,000 points milestone.
Published in The Tribune News
