PSX rallies for second day to surpass 45,000-point level

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The Pakistan Stock Exchange (PSX) remained bullish for the second day in a row on Friday, with the benchmark KSE-100 Index surging past the 45,000 points level to close at 45,152.11 points with 223.28 points gain.

The PSX opened on a negative note and touched the day’s lowest within initial minutes trading, as the global equities fell after their worst quarter since the early days of the pandemic. The local market switched between the red and green territories for the first hour trading and then remained in the green territory throughout the session. The positive rumours surrounding the political situation in the country boosted the investors’ confidence.

On the other hand, the Pakistani rupee plunged to a new low of 184.09 against the US dollar, while the crude oil prices inched down during the day.

The KSE-100 Index moved in a range of 741.19 points, showing an intraday low of 44,654.95 points and a high of 45,396.14. Among other indices, the KSE All Share Index gained 67.26 points (+0.22 percent) to close at 30,855.54 points, while KMI All Share Islamic Index gained 39.64 points (+0.18 percent) to close at 22,268.43 points.

 

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