PSX jumps over 1,000 points in less than an hour into trading

KARACHI: The Pakistan Stock Exchange (PSX) has been showing impressive rally for the past couple of weeks. However, towards the end of the outgoing week, the index started losing out on some of its gains.

On Monday, the benchmark KSE-100 index jumped over 1,000 points in less than an hour into trading. By 9:44 AM, the index was trading at 80,985.16 points, showing 1,041 points increase.

PSX closed on Friday at 79,944.09 points, showing decline of 329 points through the day. During the outgoing week, the KSE-100 index experienced significant fluctuations.

KSE-100 closes week shedding 329 points

Just on Friday, the trading range extended to 1,710.00 points, touching the day’s highest at 80,321.68 points, and the lowest at 78,611.68 points.

Political turmoil, and Supreme Court’s verdict on reserved seats did not help the market sentiment either. Today, the index opens at Friday’s closing, amidst continued uncertainty on the political front. However, with the new fiscal year beginning to settle, there are also expectations of recovery in investor sentiment.