KARACHI: The KSE-100 shares increased by almost 1,000 points on Thursday, marking a bullish session for the Pakistan Stock Exchange (PSX) as macroeconomic data improved.
Around 11:45 a.m., the stocks reached their all-time high of 82,000.89 points.
The benchmark KSE-100 index closed at 81,459.28 points, up from the previous closing of 80,461.33 points, after gaining 997.95 points, or 1.24%.
Head of research at Pak-Kuwait Investment Company Samiullah Tariq credited the increase to hopes of more interest rate decreases and a decline in anxiety of foreign selling.
According to Tariq, the Federal Reserve’s rate drop and yesterday’s rejection of the t-bill auctions are “emanating” expectations of rate reductions.
Raza Jafferi, CEO of EFG Hermes Pakistan, stated in an interview with tv
