Stock market shows improvement in investor sentiment

KARACHI: The stock market has been consistently posting gains since the beginning of the outgoing week, a momentum that continued on the opening day of the current trading week.

The benchmark KSE-100 index posted 234.82 points gain on Monday until noon. Tuesday saw the positive momentum continue with 345.12 points gained on Tuesday until noon.

The index opened at 47,721.79 points, quickly posting gains to hover around 48,066.91 points by the midday. Trading volume also showed positive investor sentiment with over 75 million shares alreafy c changing hands until midday.

Share market continues positive momentum from last week

A range of companies from different sectors showed green trading, indicating that the market confidence was improving altogether and not dependent upon a specific sector or company.

The performance can be attributed to the continuous strengthening of the Pakistani Rupee, which appreciated against the US Dollar for the 23rd consecutive session and closed at Rs 281.65 to the USD.

It’s notable that the benchmark KSE-100 index has demonstrated remarkable growth during the fiscal year, gaining 6,269 points, or 15.12 per cent.