Karachi: Due to renewed confidence in the national economy by investors, the Pakistan Stock Exchange witnessed a significant surge on the first day of the new year.
According to details, the Pakistan Stock Exchange (PSX) marked an impressive beginning to the year 2024, witnessing a robust surge in the benchmark KSE-100 Index by 3.24%, with an addition of 2,024.17 points during Monday’s trading session.
As of 1:25 pm, the KSE-100 Index stood at 64,475.21. The notable uptick was notably driven by heightened interest in the oil and gas sector, with stocks like OGDC, PPL, PSO, and SNGP experiencing rallies of 5-7%, reported Business Recorder.
Investor confidence received an additional boost with the news that the International Monetary Fund (IMF) had finalized its schedule to discuss Pakistan on its Executive Board agenda on January 11, 2024.
It is noteworthy that on the last day of the year 2023, the business index in the stock exchange had closed at the level of 62,451 points. The past year 2023 proved to be a good year for the Pakistan Stock Exchange, concluding with a positive upward trend the day before new year with an increase of 398.81 points.
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