ISLAMABAD: Amid the continuous upward trend for the last couple of days, the Pakistan Stock Exchange (PSX) on Monday reached another historic high while crossing 53,500 points. In the middle of the day, the index was even approaching 54,000 points. At close, the index gained 737 points to settle at a historic high of 53,860.36, points as compared to 53123 on the previous working day.
Last week, when the index crossed 53150, it was the highest during the last six years. However, on Monday, after crossing 53,500, the index reached an all-time high. During the last couple of days, the index gained over 2000 points.
Meanwhile, on Monday, buying was witnessed across the board, where the top-tier companies preferred to take interest in buying and remained in the green zone. These companies included cement, chemicals, commercial banks, OMCs trading, and other heavy sectors.
Record Bullish Trend at PSX
Market experts believe the continued bullish trend in the market was due to the recent announcement by the State Bank of Pakistan to keep the interest rate unchanged at 22%, followed by the political stability and announcement of an election in the country.
Meanwhile, the positive feedback from the International Monetary Fund (IMF) mission during their ongoing visit to Pakistan further multiplied the positive sentiments in the market.
Meanwhile, during trade on Monday, 365 companies traded their shares, 253 companies marked positive gains, whereas 97 companies traded their shares in loss, and 15 companies remained unchanged.
