PSX surpasses 55,000 pts on Friday

Pakistan Stock Exchange

Karachi, November 10, 2023 : On Friday, the Pakistan Stock Exchange (PSX) reached a significant milestone as its key KSE-100 index soared beyond the 55,000-point threshold, establishing a new record high in intraday trading.

This upswing was propelled by a surge of more than 833 points, fueled by various positive factors such as the confirmation of the election date and anticipations of a positive assessment from the International Monetary Fund (IMF).

At 10 a.m. on the final day of the trading week, Friday, the Pakistan Stock Exchange (PSX) 100 index was observed trading at 55,094 points. Earlier in the week, specifically on Tuesday, the KSE-100 index surpassed the 54,000 points milestone. Raza Jafri, Head of Equity at Intermarket Securities, credited the rally to robust domestic institutional buying and a decline in yields for Pakistan Investment Bonds (PIBs).

It is noteworthy to highlight that the index last traded above 52,000 points in 2017, during the tenure of PML-N.

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