PSX gains ground after going south
Business
The PSX maintained a bullish trend throughout the last week
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) gained some ground during Tuesday’s trading after a lean day.
At the outset of trading, the KSE-100 Index declined to 115,877 after losing 562 points. But soon it recovered and climbed to 116,904 with a gain of 400 points.
On Monday, the PSX closed at 116,439 after losing 2,002 points. It took the plunge because of selling pressure.
Key sectors including oil and gas exploration companies, OMCs, refineries, automobile assemblers and fertilizer traded in the red.
The PSX maintained a bullish trend throughout the last week, scaling the all-time high of 119,000. The KSE-100 Index closed at 118,442 after losing 327 points on Friday.
This sustained surge was driven by optimism surrounding a potential staff-level agreement for the release of the $1 billion second EFF tranche by the International Monetary Fund (IMF).
43%
27%
