{"id":864,"date":"2023-11-24T08:21:53","date_gmt":"2023-11-24T08:21:53","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/psx-reaches-new-highs-crosses-59000-milestone-in-intraday-trading-such-tv\/"},"modified":"2023-11-24T08:21:53","modified_gmt":"2023-11-24T08:21:53","slug":"psx-reaches-new-highs-crosses-59000-milestone-in-intraday-trading-such-tv","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/psx-reaches-new-highs-crosses-59000-milestone-in-intraday-trading-such-tv\/","title":{"rendered":"PSX reaches new highs, crosses 59,000 milestone in intraday trading &#8211; SUCH TV"},"content":{"rendered":"<p> <br \/>\n<br \/><\/p>\n<div>\n<p style=\"text-align: justify;\">Continuing its bull run from the preceding sessions, the benchmark index of the Pakistan Stock Exchange (PSX) hit yet another all-time high on Friday and crossed the 59,000 milestone.<\/p>\n<\/div>\n<div>\n<p style=\"text-align: justify;\">According to the PSX website, the KSE-100 index stuck 59,402.82 points at 10am, up 502.98 or 0.85 per cent from the previous close of 58,899.84.<\/p>\n<p style=\"text-align: justify;\">The benchmark of representative shares has recorded steady gains throughout the week, thanks to the improving macroeconomic outlook following the successful review of the International Monetary Fund (IMF) programme.<\/p>\n<p style=\"text-align: justify;\">The IMF funds, expected to be issued next month after the lender\u2019s executive board board meeting, are a second tranche of the nine-month bailout package. This will bring total disbursements under the $3bn package, approved in July, to almost $1.9bn.<\/p>\n<p style=\"text-align: justify;\">Speaking to Dawn.com today, Raja Jafri, head of equities at Intermarket Securities Ltd, attributed the rally to the return of foreign institutional buying.<\/p>\n<p style=\"text-align: justify;\">\u201cDespite the recent sharp rally, valuations remain attractive. The government has due focus on the economy and risks seem well-managed for now,\u201d he said, adding that the completion of the IT export policy had galvanised the tech sector particularly.<\/p>\n<p style=\"text-align: justify;\">Mohammed Sohail, chief executive of Topline securities, was of the opinion that the stock market was catching up on the losses of the last few years.<\/p>\n<p style=\"text-align: justify;\">\u201cThe finance minister\u2019s remarks that the government is looking to get $1.5 billion after the IMF tranche is helping sentiments,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, JS Global equity sales head Syed Faran Rizvi said the Pakistani market\u2019s future performance hinges on the crucial indicator of declining oil prices.<\/p>\n<p style=\"text-align: justify;\">\u201cFrom a technical standpoint, the upside target for the index stays consistent at 59,294,\u201d he pointed out.<\/p>\n<p style=\"text-align: justify;\">However, Rizvi cautioned that on the downside, support was anticipated in the range of 58,450-58,700 levels, with a subsequent level at 58,246 \u2014 a breach below this point might trigger a corrective trend.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.suchtv.pk\/business\/item\/122831-psx-reaches-new-highs-crosses-59-000-milestone-in-intraday-trading.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Continuing its bull run from the preceding sessions, the benchmark index of the Pakistan Stock Exchange (PSX) hit yet another all-time high on Friday and crossed the 59,000 milestone. According to the PSX website, the KSE-100 index stuck 59,402.82 points at 10am, up 502.98 or 0.85 per cent from the previous close of 58,899.84. The&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/psx-reaches-new-highs-crosses-59000-milestone-in-intraday-trading-such-tv\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;PSX reaches new highs, crosses 59,000 milestone in intraday trading &#8211; SUCH TV&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/100e787dc465aabe1d865f31de9e947a_XL.jpg","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[120,119,622,621,567],"class_list":["post-864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-imf","tag-international-monetary-fund","tag-kse-100-index","tag-pakistan-stock-exchange","tag-psx"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSX reaches new highs, crosses 59,000 milestone in intraday trading - SUCH TV - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/business\/psx-reaches-new-highs-crosses-59000-milestone-in-intraday-trading-such-tv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSX reaches new highs, crosses 59,000 milestone in intraday trading - SUCH TV\" \/>\n<meta property=\"og:description\" content=\"Continuing its bull run from the preceding sessions, the benchmark index of the Pakistan Stock Exchange (PSX) hit yet another all-time high on Friday and crossed the 59,000 milestone. According to the PSX website, the KSE-100 index stuck 59,402.82 points at 10am, up 502.98 or 0.85 per cent from the previous close of 58,899.84. 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