The Pakistan Stock Exchange (PSX) crossed the 50,000 point barrier at day end on Thursday amid a bullish trading session witnessed during the day.

The KSE-100 index closed at a record level of 50,192 points, after an increase of 435 points.

On Tuesday, the KSE-100 index tested the 50,000 barrier in intraday trading for the first time in its history, before closing at 49,969 points.

Pakistan's economy has rebounded in recent years, with improving security across the country fuelling economic growth.

Sentiment was further buoyed by China's plans to invest $57 billion in a network of roads, railways and energy infrastructure across Pakistan.

Pakistan was the world's fifth highest-returning stock market in 2016, but the growth was driven by local investors, with the bourse eager to attract more foreign inflows.

Earlier in December, a Chinese consortium had acquired a 40pc stake in the PSX.

The consortium comprises three Chinese exchanges -- China Financial Futures Exchange Company Limited, the Shanghai Stock Exchange, the Shenzhen Stock Exchange and two local financial institutions - Pak-China Investment Company Limited and Habib Bank Limited.

At least 17 entities in all had expressed an interest in the PSX, whose benchmark stock index was one of the best performing indices worldwide in 2016.

The PSX now plans to offer 20pc of its own shares to the public, officials said.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.