PSX maintains bullish momentum on Thursday, briefly jumping over 900 points

KARACHI: After closing with a 90 points loss on Wednesday, the Pakistan Stock Exchange (PSX) opened Thursday on a bullish note, climbing over 800 points minutes into trading.

The benchmark KSE-100 index opened at 114,084.53 points, and instantly jumped 345 points. Since then, the market has been undergoing a steady increase, reaching the morning’s highest at 115,024.82 points – with over 900 points increase.

Some of these gains dissolved by 10 AM, but the KSE-100 still stayed over 800 points above the opening level at 114,927.44 points.

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Investor sentiment has been cautious this week, primarily due to the looming International Monetary Fund’s (IMF) review. On the other hand, the increased spending in the economy due to Ramazan as well as the State Bank of Pakistan (SBP) maintaining the policy rate have provided impetus to the overall economy, also impacting the stock market trends positively.

Around 10 AM, the index looked like this: