Karachi, November 8, 2024- The Pakistan Stock Exchange (PSX) maintained its upward momentum on Friday, with the KSE-100 index crossing the 93,000 points. The index rose by 771.19 points (0.83%), closing at 93,291.68, up from the previous close of 92,520.49.
Trading volume surged, with 763.25 million shares exchanged, compared to 678.78 million shares in the prior session. The total value of shares traded reached Rs 30.2 billion, up from Rs 24.82 billion on the previous trading day.
Analysts have attributed the bullish trend to declining yields on fixed-income instruments and positive macroeconomic indicators. They noted a notable increase in Pakistan’s inward remittances, which totaled $3.052 billion for October 2024, reflecting a 24% year-on-year and 7% month-on-month rise. A day earlier, the State Bank of Pakistan had also reported an inflow of $3.1 billion in remittances sent by overseas Pakistanis during October 2024.
This ongoing rally reflects investor optimism driven by stronger economic fundamentals and a steady inflow of foreign remittances.
