ISLAMABAD, Nov. 24 (Xinhua) -- The Pakistan Stock Exchange (PSX) continued a record streak on Friday, with its benchmark index reaching a new record high amid positive developments on political, economic, and financial fronts.
The PSX benchmark KSE 100-Index increased by 0.32 percent, or 186.51 points, crossing the 59,000 level for the first time in its history to close at 59,086.35 points on the week's last session.
The stock market has been witnessing a very positive trend in the recent past.
Khurram Schehzad, chief executive officer of Alpha Beta Core, a Pakistani financial advisory and investment strategy firm, told Xinhua that "recovery in the stock market is resulting with clarity in elections and its schedule, giving investors some clarity and direction of the country."
On the economic side, he added that a successful International Monetary Fund review leading to a staff-level agreement is generating positive sentiment in the market.
Additionally, "expectations are rising for an interest rate cut in early 2024 where secondary market rates have already come down by 2-3 percent," according to Schehzad. ■