The bullish trend continued at the Pakistan Stock Exchange (PSX) as traders cashed in on the index rising by 405 points which has now crossed the 60,000 mark on Tuesday.
In November alone, the KSE-100 index has hiked by more than 8,000 points.
The market gained 611 points to reach 60,423 points at 10:00 in the morning on Tuesday.
The market recovered to the 53,000-point mark in early November after a gap of six years, till then its highest level in history.
In addition to the IMF deal, analysts have attributed the performance of the market to fiscal discipline by the government as well as a clampdown on the smuggling and manipulation of the dollar.
According to the weekly report of PSX, the KSE-100 benchmark closed at 49,493 points which is recorded as the highest in the past six years, however, the highest level of the KSE-100 index was recorded at 49520 points, meanwhile, the lowest weekly level in the stock market was 47,217 points.
During the week, a total of 1.87 billion stocks were bought and sold in the market, while PSX’s one-week business value stood at Rs 55.55 billion, the weekly report stated.
