Pakistan Stock Exchange is witnessing a record high on the second day of the business week as the benchmark KSE-100 index crossed the 81 thousand mark for the first time in history during the early trading.
A bullish trend was seen in the stock market yesterday as well, when trading was halted for some time after a fire broke out in the stock exchange.
Arif Habib Corporation’s Ahsan Laghadi attributed the bullish trend in the market to expectations of a stable earnings season as investors eye staff levels with the IMF following the government’s tax reform measures in the current fiscal year’s federal budget. A deal is expected.
He said that speculations related to good dividend payouts to shareholders, easing of monetary policy by the State Bank of Pakistan and World Bank’s approval for private sector assistance in privatization of loss-making public enterprises have weighed on the Pakistan stock market. I played an important role in the booming trend.
Topline Securities Limited said trading was halted for 2 hours due to a fire on the fourth floor of the stock market building, the building was evacuated and trading resumed after the fire was brought under control.
During the trading, the benchmark index had reached a high of 80 thousand 738 points which closed at 80 thousand 566 after an increase of 353 points or 0.77% compared to the previous business week.
