Stock market posts 400 points jump early on Friday

KARACHI: The Pakistan Stock Exchange (PSX) closed in green on Thursday, posting 157.80 points gains or 0.21 per cent growth, concluding the trading day at 75,114.47 points, surpassing the 75,000 level.

Today (Friday), the index opened at yesterday’s closing and in less than half hour of trading hiked by over 400 points.

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However, the steep climb was somewhat adjusted as trading continued and close to 10 AM, the benchmark KSE-100 index was seen trading at 75,583.92 points, crossing yesterday’s highest. Yesterday, the stock market saw the highest of the day at 75,284.74 points.

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.