{"id":29205,"date":"2023-11-28T06:44:04","date_gmt":"2023-11-28T06:44:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/psx-touches-record-60000-milestone-in-intraday-trade\/"},"modified":"2023-11-28T06:44:04","modified_gmt":"2023-11-28T06:44:04","slug":"psx-touches-record-60000-milestone-in-intraday-trade","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/psx-touches-record-60000-milestone-in-intraday-trade\/","title":{"rendered":"PSX touches record 60,000 milestone in intraday trade"},"content":{"rendered":"

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The benchmark index of the Pakistan Stock Exchange (PSX) continued its bullish run on Tuesday and crossed the 60,000 barrier, a record high.<\/p>\n

At 10am, the KSE-100 index\u2019s trade volume increased by a further 564.50 points, or 0.94 per cent, from the previous close of 59,811.34, effectively crossing the 60,000 barrier.<\/p>\n

The benchmark KSE-100 index had sustained its rally from the previous week, which analysts had attributed to attractive valuations, corporate profits, reduced economic volatility, and the successful conclusion of a staff-level deal with the International Monetary Fund (IMF).<\/p>\n

Moreover, experts predicted a continuing positive momentum amid expectations of \u201cpeaked out inflation and monetary easing onwards\u201d.<\/p>\n

Sana Tawfik, deputy head of research at brokerage and investment banking firm Arif Habib Limited, attributed the rally to IMF\u2019s inflows<\/a> expected next month and strong fundamental performances of sectors along with attractive valuations.<\/p>\n

In addition to this, she also noted there were \u201cexpectations of interest rate reversal cycle \u2014 this makes equity market attractive hence allocations of funds shift from fixed income to equities\u201d.<\/p>\n

Mohammed Sohail, chief executive of Topline Securities, observed that the record-high trade was not surprising.<\/p>\n

He said, \u201cWhen you have unbelievable low valuation, such recovery is not at all surprising.\u201d<\/p>\n

He added that the index had gained 50pc in only 5 months, making a jump from 40000 to 60000. He highlighted that \u201cthis is the fastest 50pc rise in a few months after 2004\u201d.<\/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 its bullish run on Tuesday and crossed the 60,000 barrier, a record high. At 10am, the KSE-100 index\u2019s trade volume increased by a further 564.50 points, or 0.94 per cent, from the previous close of 59,811.34, effectively crossing the 60,000 barrier. The benchmark KSE-100 index […]<\/p>\n","protected":false},"author":2,"featured_media":29206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"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\/28100958aa289b3.png?r=101158","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-29205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t