Bulls returned to the trading floor at the Pakistan Stock Exchange (PSX) as shares climbed 900 points on Wednesday to breach the key 72,000 level for the first time.
The benchmark KSE-100 index gained 854.19, or 1.2 per cent, to stand at 72,213.59 at 10:33am from the previous close of 71,359.40 points.
Mohammed Sohail, chief executive of Topline Securities, observed that this was yet “another record high at the PSX”, he attributed the rally to being “mainly led by institutional buying”.
“After record current account surplus, investors are now expecting a big fall in April CPI (Consumer Price Index) that may result in a cut in interest rate in coming months,” he added.
The KSE-100 index had breached the key 71,000 level on Monday.
More to follow