The Pakistan Stock Exchange (PSX) continued its upward career on Tuesday to cross the 137,000 barrier in trade per day, in the middle of the continuous optimism of investors and a better economic perspective.
The KSE-100 reference index increased by 1,237.03 points, or 0.91 percent, to stand at 137,739.56 points at 11:39 am, from the previous closure of 136,502.53 points.
The market opened in a positive note, increasing by 1,205.1 points, or 0.88pc, since yesterday near reaching 137,707.63 points at 9:45 am then fell to 136,498,16 points at 10:15 am before recovering its upward impulse. The total volume of shares is 152 m valued at RS11.87 billion.
The PSX has continued its upward trend last week, crossing the level of 136,500 on Monday due to the search for value by investors and optimism about strong corporate profits.
The rally was supported by the active participation of local mutual funds and institutional investors.
An increase in workers’ remittances, solid car sales and the best foreign exchange reserves provided a solid backdrop for investor optimism, helping to compensate for modern participation and minor currency depreciation.
The workers of the workers increased to $ 3.4 billion in June, more than 8 percent year -on -year, carrying tickets for fiscal year 2015 from full year to a record of $ 38.3 billion, an increase of 27pc compared to the previous year. The foreign exchange reserves of the State Bank of Pakistan increased by $ 1.8 billion to $ 14.5 billion for the week ending on July 4, marking a maximum of 39 months.
The previous week he saw that the stock market will continue its record career, crossing the threshold of 134,000 points in the middle of strong macroeconomic foundations and the persistent purchase for local mutual funds.
More to follow
