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The Pakistan Stock Exchange (PSX) Wednesday breached the 58,000 mark for the first time as analysts credit monetary easing and optimism surrounding the economy after the International Monetary Fund (IMF) tranche for driving the market.
The benchmark KSE-100 index jumped to its highest 58,405.92 points in the intraday trade. However, it closed at 58,198.76 points after gaining 827.18 points or 1.44%, up from yesterday’s close of 57,371.59 points.
Overall trading volumes reached 596.2 million shares compared with Tuesday’s tally of 1.01 billion. The value of shares traded during the day was Rs22.05 billion.
Shares of 389 companies were traded. Of these, 236 stocks closed higher, 136 fell, and 17 remained unchanged.
