Friday, December 1, 2023

Pakistan Stock Exchange Crosses 52,000 Mark for the First Time in Six Years

The Pakistan Stock Exchange (PSX) experienced a positive trend as the benchmark KSE-100 Index gained 437 points during Tuesday’s trading session.

Earlier in the day, the benchmark index surpassed the 52,000 mark, a level not seen in over six years, before encountering some profit-taking.

By the end of the trading day, the KSE-100 settled at 51,920.27, marking a notable increase of 437.34 points or 0.85%.

Experts noted that investors were optimistic about improved corporate profits, and the government’s decision to raise gas prices, which is expected to enhance the profitability of the energy sector.

A widespread positive sentiment was observed across various sectors, including automobile manufacturers, commercial banks, oil and gas exploration companies, oil marketing companies, refineries, and technology and communication sectors, all of which saw positive trading trends.

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