Stock market breaches 72,000 psychological mark

KARACHI: Karachi stock exchange achieved a new high of 72,240 points, registering a hike of over 900 points before noon.

During yesterday’s session, the Pakistan Stock Exchange (PSX) lost 74 points, closing at 71,359.40 points.

Today, the benchmark KSE-100 index opens at this closing, amidst potential recovery sentiment, owing to the market adjustment that took place yesterday.

Stock market slips 74 points after minor fluctuations through the day

On Monday, the index had crossed the psychological mark of 71,000 points and gained 523.56 points. Yesterday (Tuesday), the market showed some fluctuations to adjust the market to local and international trading climate.

The factors that can be attributed for the climb in the market include the finance minister’s recent visit to the US to secure another IMF program, recovering export sector, and the prospect of Saudi Arabia’s investment.

However, the uncertainty surrounding the situation in the Middle East is causing negative pressures on the markets worldwide, and Pakistani stocks are also feeling the fluctuation ripples.