PSX crosses 48,000 mark on Aug 11

KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) after gained 616 points and crossed the 48, 424  mark on the last day of the trading week on Friday.

360 million shares worth 17 billion rupees were traded in the market. The market traded 1.29 percent.

 The PSX is behaving positively as the confidence of the investors is restored after positive developments in the country including the completion of the incumbent government’s tenure and the revival of the International Monetary Fund (IMF) loan programme.

The KSE-100 index is currently trading at 48,834 points. The brokers are hopeful that the market will cross the 50,000 mark in the near future.

During the current week, foreign investment of $26 millions was recorded in the Pakistan Stock Exchange.

Meanwhile, 15 companies have been added to MSCI Frontier Marketing Index.

Earlier in the month, the KSE-100 index crossed the 49,000 points mark after the SBP received the first tranche of loan from the International Monetary Fund (IMF).

It may be noted that the PSX’s 1OO-index was at 49,000 on June 8, 2017, and after then the fluctuation continued in the market.