PSX up 1,000 points after being jittery for days

KARACHI: The Pakistan Stock Exchange (PSX) finally seemed to held on to positive sentiment on Tuesday morning. After opening at Monday’s closing of 111,377.96 points, the benchmark KSE-100 index posted a quick jump of over 450 points. For the past several sessions, the index seems to open with a jump but then quickly decline to below opening level. Today, however, the bullish trend seems to have continued since morning.

KSE-100 closes at 111,377 points

By 10:30 AM, the index had grown by 1,102.45 points, to hover around 112,480.41 points. Monday morning had brought fluctuations for the market as well, but by the closing time, the index seemed to have stabilised. The KSE-100 closed with an over 1,000 points gain yesterday, and that positive trend is likely to continue into today’s trading session as well.

As of last week’s closing on Friday, the KSE-100 index had increased by 71.70 per cent on an annual comparison. In terms of the year-to-date (YTD) change, the stock market has been down by 4.34 per cent, but it seems that this week will bring more improvement for the capital market.

Meanwhile, the broader economic indicators are hopeful, with the inflation statistics being under control and the central bank feeling confident to maintain a low policy rate. The fuel prices, however, are expected to go up in the coming cycle.