Summary The rising oil price is likely to better energy sector in the coming week
KARACHI (Dunya News) – Pakistan Stocks Exchange (PSE) has stabled a bit owing to rise in crude oil prices after weak two weeks, Dunya News reported Saturday.
Stability in Asian markets and increase in crude oil price have put the Pakistan Stock Exchange on track after days of plunge.
PSE-100 index rose by 197 points on the last day of trading taking it to 30,949 points.
On the whole, 52 points were lost in the week and the market fell below 31,000 points. Experts have said that crude oil prices have increased in the international market due to cold in European countries and the United States (US).
The rising oil price is likely to better energy sector in the coming week.
On January 18 it was reported that PSE-100 Index had dropped below 1,200 points. At one point in time, the business was seen at the lowest 29,784 points.
In the last week, the trading business maintained low figures when 1,533 points were squeezed out.
According to stocks experts, the Pakistan exchange was facing the aftermath of dismal performance of Asian markets. On the other hand, oil and gas sectors also headed downhill owing to international market prices.
In the first week of the PSE, after exchanges in Islamabad, Karachi and Lahore were merged, 1,533 points plunge was witnessed.
The week had ended with 31,001 points, on January 16.
