Pakistan Stock Exchange (PSX) on Monday set a new record when the hectic buying lifted the index to over 142,000 points, reported 24NewsHD TV channel.
As the business closed for the day, the PSX’s benchmark KSE-100 Index gained 1,017.66 points or 0.72 points to 142,052.64 points.
Of the total 482 companies traded, share prices of 247 companies went up and of 206 went down while 29 remained unchanged.
Buying was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including ARL, MARI, OGDC, PPL, POL, PSO, WAFI, HBL, MEBL and NBP, traded in the green.
Analysts attributed the buying rally to investor optimism after the US and Pakistan struck a trade deal that will result in lower tariffs for the South Asian nation.
On Friday last, the PSX had witnessed an extraordinary surge. The index closed at an all-time high of 141,035 points, reflecting an increase of 1,645 points by the end of the trading session.
Reporter: Kawish Memon