Karachi: The Pakistan Stock Exchange (PSX) on Monday hit a fresh high by crossing the 69,000 mark on several factors including stability on the economic front.
The benchmark KSE-100 rose 1.76% to close at 1,203.20 points or 69,619.98 points, up from 68,416.78 points previously.
According to Arif Habib Limited on Twitter earlier, the KSE-100 index has crossed 69,000 and is trading at an all-time high.
Samiullah Tariq, head of research at Pak-Kuwait Investment Company, attributed the gains to stability in the economic front, hoping for a new deal with the International Monetary Fund (IMF), the privatization of Pakistan International Airlines (PIA).
Khurram Shehzad, CEO of the financial advisory firm Alpha Beta Core, said that investors have gained confidence as “government funding continues privatization with a loss-making priority”.
“After that, the last tranche of the International Monetary Fund to receive external support next week.”
Stocks are expected to show positive results in the upcoming short trading week, traders told The News, which will continue for two days before the upcoming holiday season.
“We expect the market to be positive next week,” said broker Arif Habib Ltd.
The market closed at 68,417 points, up 1,412 points or 2.11% on the week.
