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Home Business PSX hits over 6-year high shored up by promising macros

PSX hits over 6-year high shored up by promising macros

by NWMNewsDesk
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Pakistan Stock Exchange on Friday rallied by over 300 points and crossed the 50,700 barrier — its highest since May 2017 — driven by positive cues especially from the macroeconomic side, giving investors a leg to stand on in the capital market.

The benchmark KSE-100 index opened on a positive note and remained bullish throughout the day, with analysts citing a host of reasons — including a positive outcome of the monetary policy set to be announced on October 30.

PSX website showed that the market closed at 50,731.86 points after a gain of 366.71 or 0.71%, compared to the previous closing of 50,365.15 points. During the intraday trade, the stocks also hit 50,952.67 points.

Shares of 350 companies were traded during the session. At the close of trading, 188 scrips closed in the green, 145 in the red, and 17 remained unchanged.

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