The primary KSE-100 Index broke beyond the 52,000 mark on Tuesday, marking a good trend for the Pakistan Stock Exchange (PSX) after rising by more than 500 points.
The index increased by 521.43 points, or around 1.01%, to 52,004.35 at 12:30 p.m.
Brokerage business Arif Habib Limited pointed out that this was the first time since May 30, 2017, that the index has hit the 52,000 mark.
Experts surmise that the government’s plan to hike gas prices, which should boost the energy sector’s profitability, and increased business earnings are to blame for this increase.
Purchase activity grew across a wide range of industries, including automakers, commercial banks, oil and gas exploration firms, oil and gas manufacturing businesses, refineries, and technology and communication organizations.
The KSE-100 Index gained 539.09 points, or more than 1%, to close at 51,482.93 the day before.
Brokerage business Arif Habib Limited pointed out that this was the first time since May 30, 2017, that the index has hit the 52,000 mark.
Experts surmise that the government’s plan to hike gas prices, which should boost the energy sector’s profitability, and increased business earnings are to blame for this increase.
Purchase activity grew across a wide range of industries, including automakers, commercial banks, oil and gas exploration firms, oil and gas manufacturing businesses, refineries, and technology and communication organizations.
The KSE-100 Index gained 539.09 points, or more than 1%, to close at 51,482.93 the day before.