Stock market likely to build on yesterday’s positive momentum

KARACHI: Pakistan Stock Exchange (PSX) continued its upward trend on Monday building on gains accumulated on Friday.

The benchmark KSE-100 index surged by 713.61 points on the first trading day of the week after showing positive momentum throughout the day.

PSX closes in green as KSE-100 gains over 700 points

Today (Tuesday), the index opens at Monday’s closing of 73,799.11 points. Yesterday (Monday), the index reached an intraday high of 74,114.23 points, representing a gain of 1,028.73 points, while the lowest for the day stood at 73,109.76 points.

The bullish performance of the KSE-100 index lately can be primarily attributed to improving economic indicators, expectations of a business friendly annual budget, and the approval of the global lenders with regards to government’s economic policy.