PSX continues to rise, surpasses 55,000 mark in day trading – Business


The Pakistan Stock Exchange (PSX) continued to make gains on Friday, with the KSE-100 index crossing the 55,000 mark. According to the PSX website, the index reached a high of 55,081.56 at 10am, up 800 points or 1.51% from the previous close. Arif Habib Limited posted on X (formerly Twitter) that the index was trading at an “all-time high”, attributing the increase to State Life being the main market buyer and attractive valuations. Meanwhile, Raza Jafri, head of equity at Intermarket Securities, linked the increase to reducing PIBs yields and strong domestic institutional buying. This comes amid expectations of Pakistan’s higher weight in the upcoming MSCI global index provider review, particularly in high dividend yielding stocks. However, Topline Securities CEO Mohammad Sohail noted that while the KSE-100 index was at an all-time high, the KSE-30 index, which tracks the share prices of top 30 companies, was still below its 2017 peak by 35%.


Please enter your comment!
Please enter your name here