Pakistan stock market (PSX) 100-index at the closing time of the first day of the trading week gained 90 points as share prices rose to new highs 48,302 which is highest in the last four years and two months.
The total trading business at the closing time of the PSX was Rs930 million shares worth Rs 27.65 billion. The last week’s closing of the Pakistan Stock Exchange was 48,211.70.Reports said that good times are rolling on for the Pakistan stock market. Last week, the benchmark KSE-100 index roared past the 48,000-point level — last seen four years ago on June 15, 2017. In May alone, the index gained as many as 3,929 points.Moreover, one US dollar increased 28 paisas and reached Rs154.90 against the Pakistan rupee. The previous rate of the US dollar was Rs154.62.
The benchmark KSE-100 index ended the day at 72,742.75, up 1.07%, or 771.35 points, from where it had finished.
“Pakistan’s stock market is booming! As stated by Topline Securities CEO Mohammed Sohail, “it’s near the 73,000 mark and still soaring, it’s leading the pack with incredible gains of almost 80% in dollar terms over the past year.” He added that, according to Bloomberg data, the PSX maintained its top ranking.
According to a different report from Topline, the PSX had a strong session, ending at 72,743, its highest closing level ever, after rising 771 points.
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