According to the PSX website, the KSE-100 index rose 683 points or 0.77% to hit a new high of 89,629 at 9:34 am on the last trading day.
It should be noted that the benchmark SE-100 index crossed the 88,000 mark for the first time in history after increasing by 1,751 points. 807 points rose at the close of trading, and the market regained the psychological level of 86,570, since then the bullish trend has been maintained.
Topline Securities chief executive Muhammad Sohail said that aggressive buying has continued locally as a result of expectations of a sharp decline in bond yields and key interest rates.
Earlier, the upward trend continued for the third consecutive day and the benchmark KSE-100 index rose 602 points to cross the psychological level of 87,000 for the first time in history.
A day earlier (October 22), the KSE-100 index gained 643 points or 0.75% to reach its all-time high of 86,701.
However, this trend could not be sustained at the close of business and the index closed up 409 points or 0.48% at 86,466.
According to Business Recorder, brokerage house Topline Securities said that the reason for the bullish trend is buying by institutions and better corporate earnings.
Brokerage house Ismail Iqbal Securities said that due to a reduction in inflation and improvement in economic indicators, investors took advantage of the opportunity to buy shares at the best price.
On October 21, the SE-100 index rose 807 points or 0.95 percent to 86,57.
Mohammad Sohail, Chief Executive Officer of Topline Securities, had said that the passage of the 26th Constitutional Amendment has reduced political uncertainty, which has resulted in an uptick in the market.
Yusuf M Farooq, director of research at Chase Securities, said participants are hopeful that political uncertainty will ease and economic stability will continue.
It should be remembered that after the Senate, on October 21, the 26th Constitutional Amendment Bill was also approved by the National Assembly with a two-thirds majority.
