Pakistan Stock Exchange surpasses 49,000-level for first time in six years


KARACHI – Pakistan Stock Exchange (PSX) witnessed a record surge on Thursday as the index climbed by over 550 points, surpassing the 49,000 level.

The bullish trend continues as the benchmark KSE-100 Index crossed the 49,000 level during the opening hours of the trading session.

Before noon, the benchmark index crossed 49,321, with a surge of 557.42 points which equates to 1.14pc.

Shares of cement, pharmaceuticals, chemical, commercial banks, and oil marketing companies saw huge sales, while automobile assemblers and other companies moved with average pace.

PSX spiked following Stand-By Arrangement (SBA) by the International Monetary Fund (IMF) as country seeking funds from friendly nations.

With the latest positive development, shares trading touched 6-year high, with an impressive surge.

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