The benchmark index of the Pakistan Stock Exchange (PSX), which tracks the performance of the market, surpassed the significant 40,000-point barrier on Thursday.
At 10:37 am, the KSE-100 index increased by 616.83 points, or 1.55%, to reach 40,401.73 points.
“On the news that the refinery strategy has been finalized, the KSE-100 has maintained its upward trend, being pushed higher by refineries. According to Raza Jafri, head of equity at Intermarket Securities, value buying is also occurring in the banking and cement sectors.
After the Punjab and Khyber Pakhtunkhwa assemblies were dissolved, there was political unrest that caused the KSE-100 index to drop roughly 2,000 points the previous week. The International Monetary Fund (IMF) program was scheduled to restart soon, and this week’s lower-than-anticipated interest rate increase helped bulls regain control.
