PSX hits historic high as KSE-100 sets new record

KARACHI: The Pakistan Stock Exchange (PSX) continued to set new records, with a historic bullish trend witnessed again on Friday.

On the last trading day of the business week, strong buying activity was seen in the share market, where a remarkable increase of 1,935 points pushed the KSE-100 Index to a new all-time high of 178,291 points.

Subsequently, the bullish momentum strengthened further, and the index successively surged by 2,359 points, 2,413 points and 2,664 points, touching yet another historic peak of 179,020 points.

It is worth mentioning that investors expressed strong confidence in the stock market throughout the week. As a result, the index successfully crossed the psychological barriers of 175,000, 176,000, 177,000, and today 178,000 points.

On the other hand, gold prices recorded a significant increase in Pakistan on the fifth working day of the business week.

According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold rose by Rs5,700 per tola, reaching Rs460,262.

Similarly, the price of 10 grams of gold increased by Rs4,887, after which 10 grams of gold was traded at Rs394,600.

All-Pakistan Sarafa Gems and Jewellers Association sources said that the sharp rise came in response to an increase in prices in the international market.

In the international market, gold hovered close to the $4,500-per-ounce mark, supported by expectations of easier US monetary policy and persistent geopolitical tensions that have kept prices near record highs.

Web Desk