KARACHI – Pakistan’s stock market soared to new record high of 68,000-mark on Thursday, driven by positive economic indicators.
Stock Exchange saw a bullish run in early trade, leading to a new record being created in the benchmark 100 index. The market gained over 470 points in the opening session to reach 68,229 points, a new record.
The cement and steel sectors continue to be popular choices for investment during the current bullish trend. The slight decrease in inflation has revived expectations that the central bank might begin slashing soaring interest rates.
Furthermore, progress in the government’s plan to privatise State-Owned Enterprises (SOEs) has contributed to the KSE-100 index reaching record highs recently.
Confidence is increasing further due to the significant progress in privatisation and the inflow of foreign portfolio investment into government securities.
