PSX at a new historic level of 54,261 points

The Pakistan Stock Exchange’s benchmark KSE-100 index settled at a new historic high of 54,261 level amid record activity on Wednesday.

The index gained 525.70 points , 0.98 percent, closing at 54,261.43 points against 53,735.73 points the previous day.

The commentators and analysts said the market expects that the interest rates may come down soon, reduced current account deficit and fall in global oil prices which will help in easing inflation in Pakistan.

Arif Habib Limited (AHL) said that average traded value at PSX witnessed a 2-Year high.

The average daily traded value at PSX experienced a 2-year high and witnessed PKR 20.1bn, +10% DoD (highest since 30 Nov’21). Additionally, the KSE100 index also reached an all-time high of 54,261, +1% DoD.

A total of 482,744,893 shares valuing Rs20.129 billion were traded during the day as compared to 506,075,439 shares valuing Rs18.259 billion the previous day.

The KSE-100 index has gained more than 30pc this year, with a turnaround in fortunes coming after the IMF approved the loan programme in July to avert a sovereign debt default.