Save Our Pak
Karachi: The stock market created a new record on the very first day of the new year.
The strong upward trend that started in the last week of December continued into the new year. Trading opened with positive momentum, and the market moved to new historic levels during the session.
Due to strong buying interest, the market closed with a powerful rally and crossed the psychological mark of 176,000 points for the first time in history.
During the trading session, two major psychological levels were crossed. The benchmark index closed at 176,355 points after gaining 2,301 points. At one point, the KSE-100 Index even touched an all-time high of 176,658 points, which is the highest level ever recorded.
A total of 790 million shares worth Rs. 37 billion were traded during the day. Shares of 565 companies were exchanged, out of which 337 companies closed in positive territory, while 116 companies saw a decline. Heavy buying was seen in major sectors including commercial banks, fertilizers, oil and gas, and pharmaceuticals.
Market experts said that investor confidence has improved, and positive talks with the IMF have provided strong support to the market.
Reported by Save Our Pak
