KARACHI: The Pakistan Stock Exchange is on a strong bullish trend, with the index hitting new highs.
Pakistan Stock Exchange got off to a brisk start on Tuesday as the KSE 100 index gained 695 points to close at 86753 points.
Investor interest in the equity market resulted in a sharp rally of 749 points, with the KSE 100 index touching a new high of 86,807 points.
It may be noted that yesterday (first day of business week) also witnessed a bullish trend in PSX and the index recovered to the psychological level of 86000 points.
Apart from this, positive news is coming out due to foreign investment and economic development indicators in the country.
A Pakistani start-up that manufactures drones in the country, “Sky In”, has announced to increase its production capacity with a US dollar investment of one million dollars, under which the drones manufactured in Pakistan will be exported.
Meanwhile, Sindh Energy Minister Syed Nasir Hussain Shah has been met by United Arab Emirates Consul General Bakhit Atiq Al Rumithi. He said that UAE investors will invest in energy sectors.
Along with this, there has been a record 33.54% increase in IT exports in the first quarter of the current financial year, while the record of registration of new companies in Pakistan has also been established. With the support of SIFC, Securities and Exchange Commission of Pakistan has registered 2,617 new companies this year which is 6% more than in 2023. This brings the total number of registered companies to 231,111.
