ISLAMABAD: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index not only continued its bullish trend for the last couple of days but also powered past the 53,000 level on Friday, marking the all-time high of 53,127.24 it hit back in May 2017 during intra-day trading.
On Friday, the index continued its bullish trend from the last day, and during the first session, it reached around 53,140, which made this the highest intra-day level ever achieved by the KSE-100 Index. Later, the index even reached 53,260 while crossing the previous-best level. However, at close, the index settled at 53,123.03 with a gain of 466.27 points (0.89%).
Earlier in May 2017, the index reached its highest level of 53,127.24. The last bullish trend was the fifth consecutive upward trend in the market, as during the last five days, the index gained over 2000 points.
Bullish Trend at PSX
Market experts attributed the continued bullish trend to multiple factors, including the IMF’s acknowledgment of government measures, the announcement of the election date by the Election Commission of Pakistan (ECP), optimistic corporate results, etc.
The experts also believe in further improvement and optimistic inflows if the government conducts successful talks with the IMF for the next review.
The IMF staff-level mission led by its Mission Chief is in Pakistan and has initiated talks with the concerned authorities in the country.
Meanwhile, according to a statement issued by the Finance Ministry, the caretaker finance minister held a meeting with the IMF review mission led by IMF Chief Nathan Porter at the Finance Division on Friday.
