The Pakistan Stock Exchange (PSX) surged by over 2400 points during last week. Despite the tariff war between the US and China, the stock market saw a 4-day rally.
Stock markets around the world are under pressure, but Pakistan’s stock exchange is showing a strong bullish trend last week. Four out of five trading session saw a bullish trend.
The index rose 2,462 points to close at 117,315 points during the week, with the market capitalization increasing by Rs231 billion to Rs1.4 trillion. More new records are expected in the next week from tomorrow.
Economists are crediting this to good news. News of reduced circular debt, record remittances, and historic current account surplus pushed the stock market further up.
On the other hand, Pakistani rupee is also stable against dollar and other currencies, however gold prices have seen a sharp rise during last week, while further surge in the prices of the yellow metal is expected due to high demand of gold in the international market.
