PSX hits new high, settled at 64,718.07 points

The Pakistan Stock Exchange (PSX) witnessed another bullish trend on Thursday, as the benchmark KSE-100 Index broke the 64,000-mark barrier for the first time in its history and settled at 64,718.07.

The KSE-100 gained 800.35 points or 1.25% high as compared to the previous closing of 63,917.72.The benchmark index reached its highest level of 64,958.10 points.

The market has witnessed 50 percent increase in the benchmark index since late June.The KSE-100 has gained 24,298 points, equivalent to 60.11%.

KSE-100’s volume surging to a new high of 765.341 million shares.In today’s session, of the 100 index companies 57 closed up, 38 closed down, 1 was unchanged, while 4 remained untraded.

The local stock market has been enjoying a bullish run amid hopes of improved economic conditions following the expected inflows from IMF and friendly countries, relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.

The experts believed that the interest rates had peaked and were likely to decline to from 2024, which would attract more flows to the equity market.