The Pakistan Stock Exchange (PSX) continued its impressive performance on October 23, 2024, with the KSE-100 index reaching a remarkable 86,940 points during intra-day trading, nearing the 87,000 mark.
This surge marks the third day in a row of positive trading.
The day started with a strong gain of 268 points, bringing the index to 86,734.66 by 11:18 am. This follows a successful session the previous day when the index peaked at 86,807 points. By the end of the trading session, the KSE-100 index closed at 86,057.52, up 807.42 points or 0.95%.
Analysts attribute this bullish trend to improved investor sentiment, positive economic indicators, and political stability following constitutional amendments approved by the National Assembly. On the economic front, Pakistan also reported a current account surplus of $119 million for September 2024, marking its highest surplus since April.
The trading session saw over 474.9 million shares traded, with 269 stocks closing higher. Market experts noted that investor confidence was boosted by speculation around upcoming earnings and easing lending rates, which contributed to the market’s upward movement .