Abb Takk News

PSX crosses 50,000 points’ barrier for first time 

KARACHI: The bullish trend on Pakistan Stock Exchange (PSX) prevailed on Tuesday, as the KSE-100 index crossed the 50,000 barrier during intraday trading for the first time in its history.

Soon after the trading opened in the morning, the index gained 173 points to set the record of touching 50,049 points.

However, it later succumbed to selling pressure, losing 429 points.

The market’s gains were underpinned by buying in oil and cement stocks.

Stocks were on fire on Monday as well, with the KSE-100 index recording gains of 511 points, or 1.04 per cent, to close at a new all-time high of 49,876.