Stock market opens week on a positive note

KARACHI: Pakistan Stock Exchange (PSX) has been posting a robust recovery since mid-February. Except sporadic downturns in the past fortnight, the index has been staying positive. This week, the benchmark KSE-100 index began on a positive note once again.

After opening at 65,325.68 points, the index posted over 600 points gain to hover around 65,957.85 by noon. More than 111 million shares traded hands, with the telecom sector seemingly the biggest winner.

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Meanwhile, Pakistan’s trade deficit has showed improvement, recording a 13.49 per cent month-on-month (MoM) reduction to $1.71 billion in February.

This is a notable improvement from the $1.98 billion deficit reported in January 2024, as per data released by the Pakistan Bureau of Statistics (PBS).

Comparing year-on-year (YoY) figures, there’s a promising trend with the trade deficit decreasing by 1.95 per cent YoY, marking a significant improvement from the $1.75 billion deficit recorded in February 2023.

Stock market remains bullish with moderate gains

The market snapshot at approximately noon looked like this: