PSX keeps going up and breaks the 177,000 mark.

The Pakistan Stock Exchange (PSX) kept going up on Friday, thanks to investors’ increased confidence as inflation in the country fell.

The KSE-100 index rose 979.98 points during the day to reach an all-time high of 177,335.47 points. This was a 0.56 percent increase from the previous finish of 176,335.49 points.

Bloomberg, a global financial news service, has pointed out that Pakistan’s inflation rate rose more slowly than projected last month. This supports the central bank’s decision to drop its policy rate to a three-year low to boost economic growth.

Bloomberg says that food prices went up 3.24% in December, which is less than the 5.53% rise in November. The Consumer Price Index (CPI) also went up 5.6% from December to December, which is less than the 6.1% rise from November to November.

Even while tensions with Afghanistan and border restrictions made commerce harder, food supplies were found through other means, and inflationary pressures stayed rather low overall.

According to PSX data, the benchmark index closed higher the day before, adding 2,301.17 points, or 1.32 percent, to settle at 176,355.49 points, up from 174,054.32 points the day before.

During the session, the ready market saw 1,402.650 million shares traded, worth Rs 48.424 billion. This was more than the previous session, when 957.239 million shares were traded, worth Rs 44.231 billion.

Of the 485 companies that were active in the ready market, 337 went up, 116 went down, and 32 stayed the same.