Recent rollover of major loans from China and a cash injection from the IMF and other friendly countries has helped spur positivity in the bourse, raising it past the 48,000 points psychological barrier on Monday morning.
The Pakistan Stock Exchange (PSX) opened on Monday morning after the long Ashura weekend on Monday. It picked up from where it had left off at 47,076.99 points on Thursday.
Within the first hour of the opening session, the index gained 836.77 points to trade at 47,913.77 points.
The wave of positive sentiment continued, however, and the index rose past the 48,000-point psychological barrier, gaining a cumulative 1,028 points (2.18%) to jump to 48,104.99.
The last time the index rose above the 48,000 point level, it rose to a three-year high of 48,726.08 points on June 14, 2021.
The top contributing sectors so far included Commercial Banks, which contributed 303.19 points, Oil and Gas Exploration 241.03 points, and Oil and Gas Marketing 62.29 points. So far, a total of 81.39 million shares have been traded in the session thus far.
The Pakistan Stock Exchange (PSX) opened on Monday morning after the long Ashura weekend on Monday. It picked up from where it had left off at 47,076.99 points on Thursday.
Within the first hour of the opening session, the index gained 836.77 points to trade at 47,913.77 points.
The wave of positive sentiment continued, however, and the index rose past the 48,000-point psychological barrier, gaining a cumulative 1,028 points (2.18%) to jump to 48,104.99.
The last time the index rose above the 48,000 point level, it rose to a three-year high of 48,726.08 points on June 14, 2021.
The top contributing sectors so far included Commercial Banks, which contributed 303.19 points, Oil and Gas Exploration 241.03 points, and Oil and Gas Marketing 62.29 points. So far, a total of 81.39 million shares have been traded in the session thus far.