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PSX reaches historic high as KSE-100 crosses 63,000 mark
On Monday, bulls seized control of the Pakistan Stock Exchange (PSX) as the benchmark index surged past the 63,000 mark, achieving a historic milestone. As per the PSX website, the KSE-100 index witnessed a gain of 447.13 points or 0.71%, reaching 63,403.15 points during intraday trading at 10:59 am.
Samiullah Tariq, the Head of Research at Pakistan-Kuwait, informed Geo.tv that the recent bullish trend in the equity market can be attributed to robust profitability, appealing valuations, and anticipations of an impending reduction in the interest rate, scheduled to be announced on December 12.
He further expressed optimism, stating that the "market should remain bullish in the coming days."
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