Bulls stage strong comeback as PSX rises above 105k points once again
KARACHI – A day after terrible shedding triggered by geopolitical aggravation, the Pakistan Stock Exchange stood from the ground up on Friday. The benchmark KSE-100 Index was hovering at 105,759 after gaining more than 2,200 points during the opening hours of trade.
Later, things further improved and the index closed at 107,174 after attaining 3,647 points. Across-the-board buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation. Besides, index-heavy stocks, including HUBCO, MARI, OGDC, PPL, POL, PSO, and SNGPL, also traded in the green as bulls returned to the PSX. Experts have linked the latest bullish spree with meeting of the Executive Board of the International Monetary Fund . The board is set to consider “Pakistan's first review under the Extended Fund Facility program, request for modification of performance criteria and request for an arrangement under the Resilience and Sustainability Facility.” The board will have its first review under the $7 billion Extended Fund Facility programme and a new arrangement of $1.3 billion under the Resilience and Sustainability Facility for Pakistan to fight daunting challenge of climate change. It must be remembered that the PSX bled on Thursday, with the benchmark KSE-100 Index losing nearly 6,500 points while closing at 103,526.82, amid simmering tensions between Pakistan and India – which have been going on unabated for the last two weeks.IMF rejects India's objections on Pakistan's support programmeVance says US won't intervene in Pakistan-India conflictUN chief again calls on Pakistan, India to de-escalate as tensions growMust Watch
PSX Business India Pakistan Pakistan-India War PAHALGAM ATTACK
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bulls dominate PSX as respite in Trump tariffs eases pressureBulls dominate PSX as respite in Trump tariffs eases pressure
Read more »
Bulls dominate PSX as respite in Trump tariffs eases pressureBulls dominate PSX as respite in Trump tariffs eases pressure
Read more »
PSX scales above 119k following better economic outlookPSX scales above 119k following better economic outlook
Read more »
PSX loses more than 12,000 points in two days amid war cloudsPSX loses 12,000 points in two days amid war clouds
Read more »
Bulls stage strong comeback as PSX rises above 105k points once againBulls stage strong comeback as PSX rises above 105k points once again
Read more »
Bulls stage strong comeback as PSX rises above 105k pointsBulls stage strong comeback as PSX rises above 105k points once again
Read more »