The bulls continued to rule the Pakistan Stock Exchange (PSX) on Monday, as the benchmark KSE-100 Index crossed the 51,000 mark during intraday trade.
At 11:05 am today, the main stock index was around 51,247.36 points, which is 515.50 points higher than before, showing a 1.02% increase.
Last Friday, the KSE-100 had a good day, staying mostly positive and closing at 50,731.87 points, a gain of 366.72 points or 0.73%.
Today, companies like Pak Suzuki (PSMC) and Honda (HCAR) perform well. The oil and gas sector also saw increased trading as Pakistan is thinking about raising gas prices to address its ongoing financial issues.
The positive trend can also be linked to better economic conditions, with the stronger rupee benefiting the stock market.
In the first quarter of fiscal year 2024 (1QFY24), the country’s current account deficit decreased significantly by 58% compared to the previous year, down to $947 million, from around $2 billion during the same period in the prior year. This improvement is mainly because the trade deficit shrank by 34% compared to the previous year, as reported by Arif Habib Limited (AHL).
