F.P. Report
ISLAMABAD: Share prices went through the roof at Pakistan Stock Exchange (PSX) on Wednesday tossing the index over the 58,000 mark, a historic high for the national bourse.
Amid positive signs that the country’s economic heartbeat is growing, the benchmark KSE-100 index maintained its upward trajectory during the trading session.
By midday, the index was hovering at 58,203 level, an increase of 832.27 points or 1.45 percent.
Across-the-board buying was witnessed with the index-heavy sectors including automobile assemblers, cement, chemical, commercial banks, fertilizer, oil and gas exploration companies and OMCs trading in the green.
On Tuesday, the index had gained 294 points or 0.51% to settle at 57,371.59.
The ongoing bullish trend came amid the country’s improved economic indicators, and the interim government’s successful negotiations with the International Monetary Fund (IMF) for the first review, which would unlock $700 million in funding.
Analysts expect that after the review Pakistan would be able to attract further inflows from its other multilateral and bilateral partners. (INP)
