PSX morning update: KSE-100 sees gain

KARACHI: Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 witnessed a surge of 276 points or 0.55 per cent by 9:36 AM this morning.

The market opened in the green, and saw a total of 5,985 trades within the first five minutes. The index is currently trading at 48,503 points, after last night’s close of 48,227.60 points, an increase of 255.62 or 0.53 per cent.

There is a spike with continued buying interest in index-heavy OGDC and PPL shares. A positive change of 2.15 points and 0.85 points respectively was seen at opening.

The development comes as investors lay in wait for resolution of the circular debt issue, one of the promises made by the outgoing government to the International Monetary Fund.

See: Intra-day update: KSE-100 gains over 500 points

Meanwhile, according to forex.com, the Pakistani Rupee is settled at 287.5 against the US dollar in the interbank.