Bulls maintained their momentum on the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 Index exceeded 49,000 during the first hours of trade on Thursday.
At 11:20 a.m., the benchmark index was trading at 49,321.9, up 557.42 points or 1.14%.
The benchmark KSE-100 Index had reached a six-year high the day before, closing at 48,764.55.
Index-heavy sectors such as cement, chemicals, commercial banks, pharmaceuticals, and OMCs saw widespread buying, while automakers and oil and gas exploration companies remained neutral.
“Another milestone achieved,” stated Mohammed Sohail, CEO of Topline Securities, in a note, referring to the benchmark index passing the 50,000 mark.
“From 41,000 to 49,000, a 20% increase in only 5 weeks,” he added.
Since the adoption of the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA), the index has maintained an upward trend.