PSX reaches an unprecedented peak of 118,000 in light of economic advancements.

On Wednesday, the Pakistan Stock Exchange (PSX) reached an unprecedented peak of 118,000, driven by favorable data.

The PSX had a sustained buying frenzy as bullish sentiment prevailed for the third straight day.

The KSE-100 Index surged by 1,200 points, reaching an unprecedented high of 118,243 during early trading hours.

The index subsequently closed at 117,974, reflecting an increase of 972 points. A total of 221 companies reported profits, while 157 incurred losses.

Read more: Stocks trade flourishes surpasses 116000 mark

Significant purchasing activity was observed across several industries, including automobile manufacturers, cement producers, commercial banks, oil and gas exploration firms, oil marketing businesses, power generation entities, and refineries.

Index-heavy equities such as PRL, NRL, HUBCO, MARI, OGDC, PPL, POL, HBL, MEBL, and NBP also had gains.

On Tuesday, the KSE-100 index concluded at 117,001 points, reflecting an increase of 801 points.

Analysts assert that the government’s pivotal initiatives, particularly those aimed at addressing the circular debt problem, have precipitated an investment surge and an increase in stock exchange profits.