ISLAMABAD: The bullish trend continued at the Pakistan Stock Exchange (PSX) for the last couple of days, where the 100-index gained 721, with a positive change to cross the 49 thousand benchmark on Friday. At closing, the index settled at 49,493.47, as compared to 48,771.71 last day.
On June 9, 2017, the 100- index had finished at 49,527 points, as on Friday, the PSX managed to reach the level after a gap of six years.
The market responded positively during the last few days as the index gained over 2000 points in just a week.
Meanwhile, Friday buying remained dominant, where most of the top-tier companies preferred to purchase shares, including heavy sectors like automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, pharmaceuticals, and refineries. All of these sectors remained in green throughout the day.
Bullish Trend at PSX
Market experts believe the continued bullish trend became possible due to consistent appreciation of the local currency against the dollar along with some other indicators, including positive corporate results.
They also attribute Pak Suzuki Motor Company’s (PSMC) recent decision to consider delisting as a positive indication for small shareholders.
