Karachi(Business Reporter);Stock Market Surges as KSE-100 Index Reaches 78,397 Points, The Pakistan Stock Exchange (PSE) witnessed a bullish trend on August 2, 2024, with the KSE-100 index reaching 78,397 points, gaining 656 points from the previous day. This upward mobility marks a significant gain for the week, with the index previously closing at 77,740 points on August 1, 2024,
The latest upsurge is believed to be linked with temporary thaw in political animosities among the government and erstwhile adamant Jamaat-e-Islami and (JI) and Baloch Yakjehti Committee (BYC) marchers.
It must be noted that stock market witnessed a mixed trend during this week with the KSE-100 index closing at 77, 740 points after losing 146 points on Aug 1.
Meanwhile, dollars prices decreased by Rs0.16, taking it to Rs278.50 from Rs278.66 in interbank.
The surge is attributed to a temporary easing of political tensions among the government and opposition parties, including the Jamaat-e-Islami and Baloch Yakjehti Committee.
PSX bulls dominate as KSE-100 touches historic high of 80,000
The KSE-100 index represents the market capitalization of the top 100 companies listed on the PSE, accounting for around 90% of the exchange’s total market capitalization ².
The KSE-100 index has experienced fluctuations in the past, with a record high of 53,103 points in May 2017 and a significant decline during the 2008 global financial crisis ².
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