Stock market swells by 340.69 points restoring three new stages
Last updated on: 15 November,2019 09:05 pm
The index closed at 37583.89 points with overall rise of 340.69 points.
Lahore (Web Desk) - Pakistan stock exchange showed a massive upward trend in the last business day of the current week. PSX 100 index jumped by 340.69 points today.
As per details, upward trend helped the market touch limits of 37300, 37400 and 37500. This was owing to convincing trading of the shares by the investors who seemed optimistic and expressed their confidence over the market.
It is important to note that in the first day of the current business week, market started with the rise of a handsome 824.94 points.
In the second day, market showed a slight negative trend of 37.54 points but that was short-lived as in the third day a big jump of 401.40 points was observed.
The trend continued for the fourth and fifth day with rise of 76.24 and 340.69 points respectively. Overall the week showed an upward trend in the market. The rise on Friday was that of 0.91 percent.
During trading at one point index touched the limit of 37634.75; however, this trend could not persist and the index closed at 37583.89 points with overall rise of 340.69 points.
Economic experts opine that the bullish in stock market was indeed result of end of political uncertainty. On the other side, successful negotiation with IMF also boosted confidence of investors who whole-heartedly took part in the economic activity.
Among other reasons, one of them was the conclusion of JUI-F sit-in. Some experts are of the view that World Bank (WB) report with regard to economic situation and expected curtailment of interest rate also helped stock market to rise and live up to investors’ expectations.