Karachi: The Pakistan Stock Exchange (PSX) on Monday (April 11) gained a historic high of 1700 points in KSE 100, news sources reported. The stock exchange experienced a positive trend, with a net gain of 3.83 %, closing the index at 46,144.96.
According to reports, the stock exchange reached its highest intraday trade level of 46,215.54 points, which strengthened the Dollar-PKR parity. Similarly, the KSE-30 Shares Index rose 689.74 points, or 4.05 %, to close the day at 17,703.87 points. The entire exercise resulted in the exchange of 330 million shares, more than doubling the volume to 557.67 million from 227.88 million. Furthermore, the transaction value more than doubled from PKR 6.785 billion to PKR 13.362 billion.
As per market analysts, this development is the result of traders feeling positive after the country’s political landscape stabilized and the State Bank of Pakistan (SBP) revealed that the International Monetary Fund (IMF)’s program will be extended. Former PSX director Zafar Moti stated that the rally also absorbed the negative impact of the SBP’s policy rate adjustment of 250 basis points.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
