{"id":23089,"date":"2023-11-10T05:55:31","date_gmt":"2023-11-10T05:55:31","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/psx-extends-gains-crosses-55000-milestone-in-intraday-trade\/"},"modified":"2023-11-10T05:55:31","modified_gmt":"2023-11-10T05:55:31","slug":"psx-extends-gains-crosses-55000-milestone-in-intraday-trade","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/psx-extends-gains-crosses-55000-milestone-in-intraday-trade\/","title":{"rendered":"PSX extends gains, crosses 55,000 milestone in intraday trade"},"content":{"rendered":"

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The benchmark index of the Pakistan Stock Exchange (PSX) continued to extend gains on Friday and crossed the 55,000 barrier.<\/p>\n

According to the PSX website, the KSE-100 index struck a high of 55,081.56 at 10am, up 800 points or 1.51 per cent from the previous close of 54,261.42.<\/p>\n

In a post on X (formerly Twitter), Arif Habib Limited said the index was trading at an \u201call-time high\u201d.<\/p>\n

Head of equity at Intermarket Securities, Raza Jafri, attributed the rally to strong domestic institutional buying and reducing Pakistan Investment Bonds (PIBs) yields.<\/p>\n

He further stated that expectations of higher weight for Pakistan in the upcoming review of global index provider MSCI was combining to push up the benchmark index, especially in high dividend yielding stocks.<\/p>\n

Indices by MSCI help passive investors allocate their funds in a variety of equity markets around the world.<\/p>\n

Meanwhile, FRIM Ventures Chief Investment Officer Shahbaz Ashraf said the main reason for the gains was that yields were coming down which had prompted domestic buying.<\/p>\n

\u201cBesides this, the technical reason is that State Life is the main market buyer. I think majorly, the market is trading at very attractive valuations,\u201d he added.<\/p>\n

On the other hand, Topline Securities CEO Mohammad Sohail said that even though the KSE-100 index was at an all-time high, the KSE-30 index<\/a> \u2014 which tracks the share prices of top 30 companies, excluding dividends \u2014 was still hovering 35pc below its 2017 peak.<\/p>\n\n

More to follow<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The benchmark index of the Pakistan Stock Exchange (PSX) continued to extend gains on Friday and crossed the 55,000 barrier. According to the PSX website, the KSE-100 index struck a high of 55,081.56 at 10am, up 800 points or 1.51 per cent from the previous close of 54,261.42. In a post on X (formerly Twitter), […]<\/p>\n","protected":false},"author":2,"featured_media":23090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/11\/101002351ac25c9.png?r=100320","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-23089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/23089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=23089"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/23089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/23090"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=23089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=23089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=23089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}