PSX gains 164 points to breach 43,000 level as risk appetite rises

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The Pakistan Stock Exchange (PSX) turned around on Wednesday after shedding 1,673 points during the last two sessions, with the benchmark KSE-100 Index gaining 164.61 points (+0.38 percent) to close at 43,042.96 points.

The PSX opened on a positive note and gained around 339 points during the first 15 minutes of the session amid the re-emergence of the appetite for the risk-linked assets. The indices switched between the red and green territories later but remained in the positive zone for most part of the session. The last few minutes trading witnessed massive buying, which brought the benchmark index above the psychological level of 43,000 points.

The index moved in the green territory as international crude oil prices slipped due to some optimism in the Russia-Ukraine conflict, which improved the investors’ confidence. Moreover, the Pakistani rupee remained almost flat against the US dollar during the day. Again, the gold prices dipped around two percent. TLTP

 

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