Bullish trend in PSX as 100-index gains 800 points on last day of trading week
KARACHI: Pakistan Stock Exchange (PSX) on Friday witnessed an unprecedented jump in volume as the 100 index gained 800 points during today’s trading.
As per details, the bench mark 100-index showed positive trend at the start of the business day and closed at 37,612 points after witnessing a massive increase of 800 points.
According to the stockbrokers the investors are expressing confidence in the market following the Prime Minister Imran Khan’s massive decision to reshuffle the federal cabinet, yesterday.
Investors hope that the market would recover with expected improvement in the macroeconomic indicators as the biggest challenge to the economy – the current account deficit – has started narrowing down.
Read more: PSX sees bullish trend, gains 635 points
The economic activities in the PSX are gearing up after the financial aid from the Saudi Arabia, United Arab Emirates (UAE) and China to face this crunch economic situation.
PSX in 2018
Pakistan Stock Exchange, widely regarded as a barometer of the country’s economy, in 2018 shattered the investor confidence following wide-ranging upheavals in the political landscape and global economic condition.
The year 2018 started with PSX 100 index at 40,471 points but lost over 2,000 points by the end of the year. Prices of different companies’ stocks declined by more than Rs700 billion.