The Pakistan Stock Exchange touched a new high on Thursday as the benchmark KSE-100 Index crossed the 67,000 mark for the first time in its history after the government showed its seriousness on the privatisation of lossmaking state-owned enterprises (SOEs) – boosting the investors’ confidence.
It meant that foreign and local institutions opted for buying stocks in sectors like commercial banks, cement, chemical, oil and gas exploration and marketing companies.
The latest record came against Wednesday’s closing of 66,547.78. Previously, the KSE-100 Index had touched an all-time high of 66,426.78 on December 12.
Meanwhile, the bullish stocks follows FTSE Russell’s decision about its merging market (EM) indexes on Wednesday, in which it said Pakistan is still on watch for a possible downgrade from “secondary emerging” to “frontier” market and an update to its status will be announced by July 5, 2024.
By the time session was closed for the day, the KSE-100 Index had been recorded at 67,142.12 after a gain of 594.34 points, or 0.89 per cent.
