PSX Closes At New All Time High After Govt Announces Huge Cut in Power Tariff

Bulls reigned supreme at the main bourse today as investors poured in more money into equities following the federal government’s announcement to cut electricity rates by over Rs. 7.4 per unit. The KSE-100 index briefly crossed 119,000 before closing at a new all-time high on Thursday. Around 3:25 PM, it gained 1,373 points or 1.16 percent to hit 119,179 before retreating a few levels at close. It closed at 118,938, up 1,131 points or 0.96 percent. A total of 422,702,593 shares were traded during the day, whereas the price of shares stood at Rs. 28.21 billion. As many as 452 companies transacted their shares in the stock market, 247 of them recorded gains and 154 sustained losses, whereas the share price of 51 companies remained unchanged.