PSX gains over 500 points, closes after impressive rally

KARACHI: The Pakistan Stock Exchange (PSX) gained 523.56 points through the day today. After opening at 70,909.90 points on Monday, the index jumped 416 points within an hour of trading.

By 10 AM, the benchmark KSE-100 index was hovering at 71,325.96 points. This trajectory of growth continued through the afternoon, when the index touched the highest of the day at 71,861.18 points. Towards the end of the trading day the index has settled down to a comfortable 71,433.46 points.

PSX jumps over 400 points, crosses 71,000 mark again

Once before, during the last week, the index had crossed the psychological limit of 71,000 points.

The factors that are lending strength to the market includes the finance minister’s visit to the US to secure another IMF program, improving rupee, recovering export sector, and the prospect of Saudi Arabia’s investment.

ESG practices in Pakistan’s markets: PSX enters into agreement with LSE

On the flipside, the eroding situation in the Middle East and the corresponding cautious approach of the international investors is creating negative pressures on PSX as well. Banking and telecom sectors closed in red for the most part, while the energy sector closed in green.