KARACHI: Pakistan Stock Exchange above the 98,000 mark on Friday as share prices surged more than 2,000 points in intraday trade
PSX surged at 90,087.41 points
KARACHI: The Pakistan Stock Exchange (PSX) as shares surged more than 1,100 points to a new high in intraday trade on Friday.
The benchmark KSE-100 index climbed 1141.43, or 1.25 per cent to stand at 90,087.41 points from the previous close of 88,945.98 points at 9:55am.
Mohammed Sohail, chief executive of Topline Securities, noted that the stocks reached the 90,000 mark in one of the fastest record gains of 125pc in 18 months.
Sana Tawfik, head of research at Arif Habib Limited, attributed the gains to investors anticipating a monetary policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting on November 4.
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