KSE-100 shows signs of recovery

KARACHI: The Pakistan Stock exchange (PSX) showed some signs of recovery this morning, after a series of rocky openings in the past few days.

The benchmark KSE-100 index shot up by 240.42 points or 0.5 per cent around 9:30AM after trading began.

After last night’s close of 48,325.84 points, the market is currently hovering around 48,566.26 points.

Despite a whole host of economic challenges, and a grim inflation outlook that has kept traders cautious, last night’s finalisation of the country’s caretaker cabinet offers some hope for stability.

PM Kakar: SIFC is ray of hope for economic development

Notably, the interim prime minister Anwaarul Haq Kakar made statements suggesting an acute focus on the developmental agenda. In particular, he termed the Special Investment Facilitation Council (SIFC) a “ray of hope” for Pakistan’s economic advancement.

However, it remains to be seen how promises of advancing the outgoing government’s economic policies will play out.