Bullish run continued at the Pakistan Stock Exchange, as the benchmark KSE-100 Index settled at a new historic high level of 54,261 level amid record activity yesterday.

Led by institutional buying, the benchmark index crossed the 54,000 level during the intra-day trading. Maintaining momentum throughout the day, the KSE-100 Index settled at 54,261.42 level, an increase of 525.69 points or 0.98%.

After hitting the then-record intra-day high, profit-taking erased gains at the PSX as the benchmark KSE-100 Index was down by 125 points to settle at 53,735.73 at the end of trading on Tuesday.

Across-the-board buying was witnessed on Wednesday, especially among the index-heavy sectors with automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies and OMCs trading in the green.

Analysts said that the bullish trend is attributed to expectations of a decline in policy rate in the coming weeks.

Published in The Daily National Courier, November, 09 2023

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