PSX gains 38 points to close in green for fifth session

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Pakistan Stock Exchange (PSX) managed to close in green for the fifth straight session on Tuesday amid expected revival of the International Monetary Fund (IMF) loan programme, with the benchmark KSE-100 Index gaining 38 points (+0.09 percent) to close at 43,078.14 points.

The market opened on a sharp positive note and remained positive for around the first three hours of the session.

However, profit-taking activity was witnessed and the market took a dip but it recovered soon and turned to positive again.

The indices remained volatile during the last half an hour trading; however, the benchmark index managed to close on a positive note.

Finance Minister Miftah Ismail’s statement about the expectation of an IMF staff level agreement in the current month gave a boost to the investors’ confidence.

Moreover, Pakistani rupee appreciated for the third straight session, which also left positive impacts on the bourse. The KSE-100 Index moved in a range of 320.82 points, showing an intraday high of 43,339.22 and a low of 43,018.40 points.

Among other indices, the KSE All Share Index shed 31.75 points (-0.11 percent) to close at 29,310.51 points, while KMI All Share Islamic Index gained 6.83 points (+0.03 percent) to close at 21,104.91 points. A total of 362 companies traded shares in the stock exchange compared to 360 a session earlier. TLTP

 

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