KSE-100 index gains 316.62 points

607

Staff Reporter

Karachi

The Pakistan Stock Exchange (PSX) staged a rebound on Tuesday and resumed its upward trend owing to general optimism on the back of a host of positive triggers. As a result, the KSE-100 index gained 317 points and closed near the 46,000-point mark.
Earlier, trading began on a positive note and the KSE-100 index remained on the upward trajectory throughout the session. A buying spree, emerging in final hours, elevated the gains. At close, the benchmark KSE-100 index recorded an increase of 316.62 points, or 0.69%, to settle at 45,922.04 points.
Though the day began on a slow and cautious note after Monday’s profit-booking, a bounce-back in the banking sector as well as absence of selling in the exploration and production sector helped the index stabilise near 46,000 points. K-Electric recorded large trading volumes in anticipation of a deal after the resumption of IMF loan programme, as highlighted by State Bank of Pakistan Governor Reza Baqir on Monday.

Previous articleNAB blowing its own trumpet?
Next articleCentre takes back four major hospitals in Karachi, Lahore