PSX index reaches historic high of above 159,000 points
Share prices at Pakistan Stock Exchange (PSX) lifted the index to historic high on Thursday after the government unveiled a plan to settle the mammoth circular debt of the power sector, reported 24NewsHD TV channel.
At the close of business, the PSX’s benchmark KSE-100 index surged by 1,043.42 points or 0.66 percent to 159.280.09 points, which was a historic close for the national bourse.
Of the 486 companies traded today, the share prices of 208 companies were up and of 237 companies were down while 41 remained unchanged.
On Wednesday, the PSX had continued its positive momentum, as investors remained upbeat ahead of a significant agreement between the government and commercial banks aimed at tackling the country’s power sector circular debt.
Despite concerns about an upcoming IMF review for the release of the third tranche of $1 billion starting Sept 25, the index surged past the 158,000-point mark.
Reporter Kavish Memon