The Pakistan stock exchange (PSX) remained unstoppable on Tuesday when the KSE-100 index crossed 149,000 points in the intra-day trading and becoming a historical moment of its records burst rally. The index jumped 1,006.96 to 149,203.38 as opposed to Monday closed number being 148,196.42.
During the session, the benchmark had ranged between the peak of 149,367.31 and a low of 148,293.94 points. The trading activity covered 105.68 million shares and its transactions amounted to 10.77 billion rupees which indicated the continued optimism amongst the investors.
On Thursday, the KSE-100 improved 1704.79 points (1.16 percent) to settle at 148,196.42. Topline Securities analysts pointed out that bullish sentiment in the market erupted following the reports of government reforms in the circular debt management such as decreases in LNG cargoes, RLNG price readjustments, and divine mobilisation into state-owned enterprise dividends and power sector receivables.
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Muhammad Hasan Ather, chief marketing officer of JS Global, further added that the high level of corporate earnings, better macroeconomic situation and elevated expectations of positive inflation levels helped the index post a new record. Top three most active stocks were WorldCall Telecom and two other stocks, Pervez Ahmed Consultancy and Al-Shaheer Corporation with 40.7 million shares traded followed by 36.738 million and 6.9 million shares traded respectively.
The National Clearing Company reported the sale of stocks by foreign investors of the Rs 625 million. Positive market sentiment, expectations of economical reforms and corp performance have seen Pakistan stock exchange continue to attract investors.
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