PSX crosses new all-time high of 94,000

Shares at the Pakistan Stock Exchange (PSX) crossed yet another all-time high of 94,000 on Thursday as bulls regained control of the trading floor, with analysts attributing the record to strengthening macroeconomic stability. After snapping its record-breaking streak on Tuesday, the PSX bounced back a day ago, recovering only 131 points as investors indulged in value-hunting. The benchmark KSE-100 increased by 548.58 points, or 0.59 per cent at around 11am, to stand at 93,904.00 from the previous close of 93,355.42. Finally, the index closed at 94,191.89, up by 836.47 points or 0.90pc, from yesterday’s close. Yousuf M. Farooq, director of research at Chase Securities, noted, “As returns decline in fixed-income mutual funds, investors are increasingly moving cash into equities.