PSX shrugs off security, political concerns as week ends at record high

The Pakistan Stock Exchange (PSX) continued its bullish momentum from the preceding week, disregarding the worsening security situation and escalating political tensions, and posted impressive gains to close the week at a new all-time high. The equity investors also ignored the concerns raised by the International Monetary Fund on external financing gaps and revenue shortfalls. However, the market’s winning streak continued on positive economic data and falling lending costs, attracting massive inflows from fixed-income deposits to equities for higher returns. As a result, the KSE-100 index maintained its unrelenting bullish momentum, touching an intraday high of 99,630 points, just 377 points shy of the 100,000 mark, in the last session. However, it settled at an all-time high of 97,798.23 points after gaining 3,035.23, or 3.2 per cent, week-on-week.