The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index soared to an “all-time high” on Friday after crossing the 53,000 barrier.
The index gained 526 points, up 1 per cent, at 10:50am from the previous close of 52,656.76 points.
According to Arif Habib Limited, the market soared to “unprecedented all-time high levels” and surged past all the previous record, setting a “new era of financial excellence”.
Mohammed Sohail, chief executive of Topline Securities, told Dawn.com that reduction in economic and political uncertainties took the market to the new high.
“In the economic realm, a long-term and good relationship with International Monetary Fund, economic reforms and sustainability of debt repayment are required to reduce the malaise,” he said.
However, Sohail cautioned: “Don’t forget this is Index (total return) with dividends and bonuses. Valuations are still low.”