Shares at the Pakistan Stock Exchange’s benchmark index gained over 138.55 points as the bullish trend continues in the stock market.
According to the PSX website, the KSE-100 index closed at 78,488.22 points against 78,349.66 points on the last working day after showing a positive change of 0.18 per cent.
A total of 680,810,524 shares were traded during the day as compared to 599,820,775 shares the previous day, whereas the price of shares stood at Rs21.186 billion against Rs20.409 billion on the last trading day.
As many as 545 companies transacted their shares in the stock market, 214 of them recorded gains and 180 sustained losses, whereas the share price of 60 companies remained unchanged.
Market analysts attribute this momentum to anticipated rebalancing inflows from a key player in global investment indices, Morgan Stanley Capital International (MSCI).
Additionally, investors are awaiting the release of Consumer Price Index (CPI) data on Monday, with expectations that August’s inflation rate will be near 10%. This follows July’s CPI rise of 11.1% year-on-year.
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PSX crosses 48,000 mark after MSCI adds Pakistan-listed companies
The market rally follows a positive shift in sentiment after Moody’s upgraded Pakistan’s credit rating to Caa2, citing improvements in the country’s macroeconomic conditions and liquidity.
(With input from APP)
