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PSX continues record breaking streak crosses 75,000 mark during intraday trading

The market has crossed a new high of 75,000 points due to foreign fund buying.

The Pakistan Stock Exchange (PSX) crossed the 75,000 mark in the early trading hours, continuing its record-breaking streak.

On Wednesday, the benchmark KSE-100 index shot up to 75,115.32 during the intraday trading at 10:11 am but came below the 74,000 mark.

A day earlier the KSE-100 Index had closed at 74,531.19 points by gaining 732.08 points or 0.99%.

According to finance experts, the market is reacting positively due to the optimism regarding the new International Monetary Fund (IMF) programme.

While the latest surge at over 75,000 points was recorded in the wake of the MSCI decision which encourages foreign investors to increase stakes in companies listed on PSX, particularly those PSX companies listed in the MSCI Frontier Market and MSCI Pakistan Index.

 

Saman Siddiqui

I am a freelance journalist, holding a Master’s Degree in Mass Communication and an MS in Peace and Conflict Studies, associated with the electronic media industry since 2006 in various capacities. Here at OyeYeah, I cover a range of genres, from journalism to fiction to fashion, including reviews, and fact findings. 

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