Intraday update: PSX gains over 500 points

KARACHI: After posting nearly 200 points loss yesterday owing to political pressures, the benchmark KSE-100 index gained momentum today and posted over 500 points gains before 11 AM.

Political uncertainty drags PSX down by nearly 200 points

The index opened at 81,114.20 points and was hovering around 81,644.56 points within two hours of trading, showing 530.36 points gains. Most of the companies were trading in green, with only TRG as the conspicuous red stock on Tuesday morning.

Analysts had attributed yesterday’s decline to government policies for independent power producers (IPPs), as well as concerns over a potential tax shortfall.

At 11 AM, the index looked like this: