Karachi: The Pakistan Stock Exchange (PSX) saw its benchmark KSE-100 index surpass the 72,000 mark during early trading on Wednesday.
At 12:51, the KSE-100 index registered a robust gain of 827.3 points or 1.16%, reaching a high of 72,187 points, showcasing a strong rebound from its previous closing at 71,359.41 points. It hit an intra-day high of 72,414.32 before dropping down some points.
This surge in the PSX is attributed to positive shifts in economic indicators and renewed investor confidence in the market’s prospects. Analysts highlight an improvement in economic metrics as a key driver behind this upswing, signaling a potential stabilization in Pakistan’s economic landscape.
The day before, the stock market experienced a slight dip due to mixed trading activities. Initial gains led by a rally in the cement sector were offset by profit-taking activities towards the close of the session.
Additionally, the Pakistani rupee showed modest improvement against the US dollar, appreciating by 0.05% to trade at 278.25 in the inter-bank market as of Wednesday morning. This slight uptick follows a marginal decrease on Tuesday when the rupee closed at 278.38.
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