The Pakistan Stock Exchange has witnessed a historic surge, with its 100 Index reaching an unprecedented high today. This remarkable performance underscores the growing confidence among investors in the market.
At the close of trading, the 100 Index increased by 615 points, concluding the day at an impressive 82,074 points. Economic analyst Abdul Rahman attributes this surge to a favorable buying trend, driven by expectations of a deal being finalized with the IMF next week. This optimism propelled the index even further, with an additional increase of 368 points, bringing it to a peak of 82,372.
Today, the market recorded a trading volume of 480 million shares, which is 20% lower than the average trading volume observed in August. Rahman noted that the upcoming FTSE rebalancing, set for next Monday, has also influenced trading patterns, resulting in fewer than 500 million shares being traded over the last three days.
The value of today’s trading reached a staggering 30 billion rupees, highlighting strong investor interest in large-cap stocks. Furthermore, market capitalization soared by 57 billion rupees, elevating it to 10,723 billion rupees by the end of the trading session.
It is worth mentioning that yesterday, the Pakistan Stock Exchange’s 100 Index recorded a significant increase of over 1,500 points, crossing the 82,000 mark for the first time, marking a new milestone in its history. Additionally, Bloomberg recently reported that the Pakistan Stock Exchange has been recognized as the best-performing market globally for 2024, further enhancing its reputation on the international stage.
In summary, the Pakistan Stock Exchange is experiencing unprecedented growth, with optimistic trends indicating a bright future for investors and the overall market.