PSX Enters 2017 With Bullish Trend, Surpasses 48,000 Mark For

(@rukhshanmirpk)

PSX enters 2017 with bullish trend, surpasses 48,000 mark for

ISLAMABAD, Jan 2 (UrduPoint / Pakistan Point News - 02nd Jan, 2017 ) : pakistan stock exchange (PSX) on Monday successfully continued its bullish trend in 2017 with massive induction of 517 points to surpass 48,000 level for the first time in history.

100-index is currently trading at 48,345 points. psx rallied 46 percent in 2016. The 100-Index gained 14,990 points during the year and closed at 47,806 as outcome of which PSX had been ranked fifth globally and number one in Asia by Bloomberg, private news channel reported.

Brazil Stock Exchange topped the list with a gain of 63.36%. Kazakhstan, Peru and Russia stock markets were second, third and fourth respectively.

Analysts anticipate boost in foreign investment after PSX's inclusion in MSCI EM index accompanied by registration of Chinese companies in near future as they have bought 40 percent shares of Asia's best-performing stock market.

On other hand, international financial institute Credit Suisse, in its recent statement pertaining to PSX, has forecasted hike in profit generation from companies registered in PSX. Foreign investors seem keen to benefit from PSX after witnessing massive bullish trend in world's fifth best-performing stock market.

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