The Pakistan Stock Exchange (PSX) soared over 900 points on Friday, buoyed by persistent macroeconomic outlook, extending its record streak.
The PSX’s benchmark KSE-100 index jumped 1,060.06 points or 1.09 percent to 98,388.45 points during intraday trading, up from the previous close of 97,328.39 points.
Apart from the positive macroeconomic aspects, the influx of liquidity from mutual funds, banks and insurance companies also contributes to the positive market dynamics and, despite these constant gains, the PSX still remains attractive for investors.
Market experts believe that rising foreign exchange reserves and speculation over government decisions on economic reforms and privatization played a catalytic role in the PSX’s record rise.
This is a developing story and is being updated with details.