Bulls charge helps benchmark 100-index to pass 40000-barrier after 10 months

Bulls charge helps benchmark 100-index to pass 40000-barrier after 10 months
Karachi: After three consecutive months of the bullish trend in the Pakistan Stock Exchange (PSX), the benchmark 100-index has surpassed the 40000-barrier.

After adding 836 points during intra-day trading, the 100-index closed at 40,124 mark, highest in ten months.

Analysts and market experts expect the market to likely surge another 20 per cent by March - provided Pakistan exits the grey list of the Financial Action Task Force (FATF) in February.

They said bulls have returned, tightening their grip in the past three months despite a challenging political environment in the country.

Dr Abdul Hafeez Sheikh, Adviser to the Prime Minister on Finance, said the "strong market rally" shows increasing investor confidence thanks to stabilisation measures taken by the government.