Karachi: The PSX 100-Index of the Pakistan Stock Exchange went upward today as it went high by 315 points to reach 117,323 points. This increase is attributed to an increase in investors’ confidence, an increase in dividends per share, and an increase in turnover, which is allied to the positive financial market sentiment.
During the trading session, it made an intraday high of 118,367 points and thus revealed good buying interest across the counters of most sectors.
The market opened on a stable note in the beginning of the session due to good action by institutional and retail investors. Banking, cement, and technology proved to lead the sectors that boosted the index throughout the day with contributions towards the adjustment.
The performance can be considered as a rebound from the previous, bearish close at 117008 points, which indicated a somewhat pessimistic direction for the index. The increase in activity is also being attributed to changes in political risk and favorable evolvement in the international markets.
Analysts believe that the same trend is expected to continue in the next few days on the basis of higher trading volumes and focused investment. PSX is still fundamental to understanding Pakistan’s economic condition, and the performance shown today proves it could adapt to new threats.
We welcome your contributions to The Pakistan Observer, Submit your blogs, articles, press releases, news story pitches and news features.
Please send your submissions to our News Room or Editorial team.
