PSX rallied to 50,000 points after 6 years,settled at 49,531

The Pakistan Stock Exchange (PSX) in its remarkable bullish run on Tuesday, briefly went above the 50,000 mark a milestone that was reached on June 07,2017 more than six years ago.

KSE100 crossed 50k level, six year high level

KSE-100 index went up by 286 points (50,017 pts, +0.58%, on intraday basis) DoD ; the 50k level crossed after ~ six years (last seen on June 07, 2017).@Pakstockexgltd#KSE100 #PSX #Equities #Pakistan pic.twitter.com/ZqUbvptRZ2

— Arif Habib Limited (@ArifHabibLtd) October 17, 2023

Till Monday,the PSX continued its upward trajectory for the 11th straight session, with the benchmark KSE-100 Index reaching near 50,000 level in the intra-day trading, before closing at 49,731.35 points.Today, after index reached high of 50,017.45 at 11:23am,the market finally closed at 49,531.01 points, down 200 points or 0.4 per cent.

The investors might be of view that interest rates may have peaked.The Pakistani rupee strengthening, economy variable, a successful IMF review, probable fall in inflation and good results are expected from banking sector.