KARACHI: The Pakistan Stock Exchange (PSX) continued its history-making spree this past week with bulls on accelerator, highlighting positive trends, achieve of several records and closed at 119,000
According to the Pakistan Stock Exchange report, the index closed at 119,000 up from 116,013 at the start of the week, meanwhile, the index reached a weekly high of 119,000 but hit a low of 116,013 points.
Over the five days of trading, the market capitalization up by Rs.132 billion, bringing the total market capitalization to Rs.16,119 billion by week’s end.
Share prices rise across the board – 42.06 percent of shares increased – out of the 1,988 companies listed, 1178 saw an increase in share price, while 810 experienced a decrease.
Having seen ups and downs in the last week, the PSX staged a comeback mainly due to optimism about reaching a staff-level agreement with the International Monetary Fund (IMF) for the next loan tranche of $1 billion.
Reports about upgrade of Pakistani banks by Moody’s Ratings and potential resolution of circular debt issue also contributed to investor confidence.
