Wednesday saw the Pakistan Stock Exchange (PSX) maintain its positive trend as the benchmark KSE-100 Index broke beyond the 58,000 barrier for the first time ever.
PSX Crossed Historic 58,000 Points At KSE-100 Index
The KSE-100 index increased by 732.53 points, or 1.28%, as of 12:30 pm, to reach 58,104.11.
Improved market confidence, coupled with encouraging signs of recovery in the nation’s economic indices, drove the surge.
IMF Successful $700 Million Tranche
With the successful completion of the first review of the staff-level agreement with the International Monetary Fund (IMF), the interim administration was able to release $700 million in financing.
Analysts anticipate that additional funding from bilateral and multilateral partners would result from this.
All across the board, there was a buying frenzy, with index-heavy industries like automakers, cement, chemicals, commercial banks, fertilizer, oil and gas exploration firms, and OMCs seeing positive trading.
Top Performers During Intraday Trade
With increases of 5.02%, 3.21%, and 2.85%, respectively, Sui Southern Gas Company Limited (SSGC), UNITY, and Fauji Foods Limited (FFL) were the top performers.
The All-Share index is currently trading at 38,935.17 in the broader market scenario, which represents a net gain of 426.01 points.
During the course of the fiscal year, the KSE-100 has notably increased by 16,404 points, or 39.57%.
Additionally, the current calendar year has seen a cumulative increase of 17,436 points, or 43.14% in the KSE-100 index.
To read our blog on “PSX achieved another milestone of 56,000 points by today,” click here.
