PSX up nearly 1,000 points before Jummah break

KARACHI: The Pakistan Stock Exchange (PSX) opened today (Friday) at yesterday’s closing of 75,114.47 points and posted nearly 1,000 points gain by noon. Yesterday (Thursday), the benchmark KSE-100 index turned its negative closing streak to end the session in green, surpassing the 75,000 level.

Today (Friday), the index hiked by over 400 points in less than half hour of trading. By the time trading was suspended for Jummah break at noon (12 PM), the index had gained 956.44 points to hover at 76,070.91 points.

While some renowned stocks like K-Electric and Symmetry Group were still seen in red, most of the sectors had started to cash in on the hike by noon. With positive expectations from the new fiscal year budget, countered by International Monetary Fund’s (IMF) restrictive conditions for the budget, market sentiment is that of uncertainty. PSX has also been showing fluctuations mirroring similar investor sentiments.

At 12 PM, the benchmark KSE-100 looked like this: