Bulls return to trading floor as PSX gains over 1,200 points
Business
Shares gain over 1,200 points
KARACHI (News Desk) – Bullish tendency has returned to the Pakistan Stock Exchange (PSX) as shares gained more than 1,200 points in intraday trade on Friday.
The KSE-100 index gained 1272.13, or 1.8 per cent and stand at 71,929.77 points at 4:27pm from the previous close of 70,657.64. Finally, the index closed at 71,902.09, up by 1244.45 points or 1.76pc from the previous close.
Experts say the market is gaining momentum after correction of 3pc during the last 3 days.
Earlier, the United States supports Pakistan’s efforts to stabilise its economy, including through reaching an agreement with the I International Monetary Fund (IMF).
Speaking during a press briefing, US State Department spokesperson Matthew Miller said that the US supports the progress that Pakistan has made to stabilize its economy and manage its daunting debt burden.
