PSX opens up over 9pc as ceasefire with India holds – Business

The Pakistan stock exchange opened more than nine percent on Monday after a high fire during the weekend with India, returning calm to markets.

The high on Saturday’s fire, announced by the president of the United States, Donald Trump, followed four days of title strikes per eye among neighbors with nuclear weapons, as well as the diplomacy and pressure of Washington.

The KSE-100 index was opened with a gain of 9,929.48 points, or 9.26pc, to stop at 117,104.11 points from the previous closure of 107,174.63 at 9:30 am

Due to mass gains, the PSX was briefly suspended shortly after opening to control excessive volatility.

Samiullah Tariq, Chief of Research and Development of Pak Kuwait Investment Company Ltd, said three main reasons for the solid market activity.

He said that the market was “positive” due to the high the fire of Pakistan-India, the approval of a section of $ 1 billion by the International Monetary Fund (IMF) and the recent statement of the President of the United States on the increase in trade with Pakistan.

Indian actions also joined today.


More to follow



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *