- Web Desk Karachi
- 3 Minutes ago
PSX jumps over 400 points, crosses 71,000 mark again
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- Web Desk
- Apr 22, 2024
KARACHI: The Pakistan Stock Exchange (PSX) jumped 416 points within an hour of trading on Monday.
The index opened at Friday’s closing of 70,909.90 points and was seen hovering at 71,325.96 points by 10 AM.
During the past week, the benchmark KSE-100 index crossed the psychological limit of 71,000 points before settling marginally below it, at 70,909 points.
Call for increased FED on cigarettes to curb rising consumption
On Friday, the index showed over 200 points growth earlier in the day, but then gradually slipped down by a 100 points within half an hour of trading. By the day end, the index had recovered once again.
This fluctuating movement in the index is less indicative of varying investor confidence and more of the uncertainty thrown in by the local and international events.
While the finance minister’s visit to the US to secure another IMF program, and recovering rupee and export sector is lending strength to the market, the eroding situation in the Middle East and the corresponding cautious approach of the international investors is creating negative pressures on PSX.
Punjab Assembly’s pre-budget session convened on Monday
Today, the market once again opens on a cautious note, with potential for growth and recovery through the day.