Positive momentum swept through the Pakistan Stock Exchange (PSX) on Friday, buoyed by optimistic indicators that kept investors engaged in high-stakes trading.
The KSE-100 index surged by 712.53 points, or 0.98 percent, ascending to 73,370.58 points in the morning session, marking a significant increase from the previous day’s close of 72,658.05.
By 3 pm, the index maintained its upward trajectory at 73,297.30, reflecting a gain of 639.25 points, or 0.88 percent, from the starting point.
The day commenced on a positive note, witnessing a robust uptick as the KSE-100 index rose by 218 points, surpassing the 72,000-point mark.
Subsequently, the PSX experienced further gains, with the KSE-100 index climbing by 96 points, nearing the 73,000-point milestone at 72,927 points.
Thursday’s trading session marked the end of a three-day losing streak, propelled by selective value-hunting that propelled the KSE 100-share index into positive territory.
Ahsan Mehanti of Arif Habib Corporation attributed the modest recovery to the World Bank’s reaffirmation of collaboration with Pakistan in structural reforms and sustainable development.
Several factors contributed to the surge in the KSE-100 index, including the impending privatization of ailing state-owned enterprises, speculation preceding new loan negotiations with the IMF, and anticipation surrounding the potential visit of the Saudi crown prince to finalize investment agreements through the Special Investment Facilitation Council.
