PSX scales 130,000 barrier as market climbs by 2,100 points

Bulls continued their reign over the trading floor at the Pakistan Stock Exchange (PSX) on Wednesday as shares scaled the 130,000-point barrier to reach a new high after climbing by 2,100 points. The benchmark KSE-100 index opened on a positive note, rising by 1,430.07 points (1.12 per cent) to reach 129,629.49 points at 10:07am, from the previous close of 128,199.42 points. Shares then rose further to reach 130,344.03 points at close, gaining 2,144.61 points (1.67pc) from yesterday. The PSX extended its record-breaking rally for the fourth consecutive session today, which analysts attributed to easing inflation and signs of macroeconomic stability.