Bulls takeover PSX, KSE-100 breaches 69,000 ceiling

Pakistani stocks continued with their record-breaking streak on Monday!

The benchmark KSE-100 Index surged 1.76 per cent and climbed over the 69,000 barrier for the first time.

The development comes as the investors remained buoyant amid possible rate cuts by the central bank.

At the close of trading, the KSE-100 Index settled at 69,619.98 with a net gain of 1,203.20 points after touching a high of 69,720.03, as foreign investors individually and institutionally went for buying.

This latest gain also comes after Saudi Crown Prince Mohammed bin Salman hosted Prime Minister Shehbaz Sharif at an iftar dinner in Makkah on Sunday at a time when it is expected that Riyadh will soon announce around $1 billion investment in Reko Diq – one of the largest copper and gold reserves in the world.