PSX Gains 281 Points to Close Above 98,000 Milestone 

The 100-Index of the Pakistan Stock Exchange (PSX) gained 281.55 points to close at highest-ever level of 98,079.78 points as compared to 97,798.23 points on the last trading day.   A total of 640,258,528 shares were traded during the day as compared to 1,249,092,089 shares the previous trading day, whereas the price of shares stood at Rs. 25.623 billion against Rs. 45.475 billion on the last trading day.   As many as 460 companies transacted their shares in the stock market, 220 of them recorded gains and 185 sustained losses, whereas the share price of 55 companies remained unchanged.  In a short note, brokerage house Topline Securities pointed out that the market reached an intraday high of 99,317. Investor confidence was buoyed by unconfirmed speculation that the State Bank of Pakistan (SBP) may offer relaxation to banks regarding minimum deposit rates for savers, it said.  Key contributors to the index’s rise included BAHL, UBL, MEBL, SYS, and MCB, which collectively added 555 points to the index, the brokerage house pointed out.