PSX midday update

KARACHI: The benchmark KSE-100 index has been showing stability with mild fluctuations since the past week and opened the current trading week with a similar sentiment.

PSX showed a dip just around the time of the beginning of Pakistan’s first ever live broadcast of Supreme Court full bench hearing.

Dollar rate lowered to Rs 295.80

However, the dip was not steep enough to have indicated a significant shift in investor sentiments. Since then, by midday, the index has posted a moderate recovery of 116 points.

The index opened at 45,753.51 points from last week’s closing, slipping down to 45,662.70 points around 11:00 a.m. However, by midday, the stock market was hovering around 45,870.22 points.

E&P companies were the primary drivers in keeping the index in the green.