Pakistan Stock Exchange (PSX) on Wednesday witnessed a positive trend amid fluctuations as the KSE-100 index traded up 132 points reaching the 64,480 benchmark.
On Tuesday, the KSE-100 index fell by 312 points and it did not maintain the psychological barrier of 65,000.
On the first day of the new calendar year, Pakistan Stock Exchange (PSX) enjoyed a remarkable rally of over 2,200 points, propelled by investor enthusiasm about the Special Investment Facilitation Council (SIFC) initiatives, coupled with anticipation of economic reforms by the incoming government.
Despite initiating trading at the intra-day low of 62,672.96 points, the KSE-100 index continuously moved upwards due to the prevailing positive sentiment, which set a bullish tone. The impending release of a $700 million loan tranche by the International Monetary Fund (IMF), surge in the central bank’s foreign currency reserves and government’s commitment to resolving the circular debt crisis aided the market’s momentum.
Additionally, the achievement of a current account surplus in November further contributed to the bull-run.
