Bulls dominated the negotiation floor on Tuesday in the Pakistan bag (PSX) as the shares increased by almost 1,400 points, with experts citing “good corporate results” as the reason for the elevation.
The rise occurs after the market suffered a three -week losing run, despite the low actions in the last three sessions due to political noise and reciprocal rates imposed by the president of the United States, Donald Trump, to the American allies and competitors, which increased concerns about a potential global global war war. .
After the fall, the actions in the exchange were carried out a record streak, since the KSE-100 index rose more than 3,000 points to exceed the 114,000 mark.
The market opened last week with a spectacular demonstration after the State Bank of Pakistan published remittance data, showing an increase of more than one quarter to $ 3 billion in January.
The reference KSE-100 index rose 1455.85 points to stop at 345,519,481 points from the previous closure of 111,743.53 points at 3:30 pm
Finally, the index closed to 113,088.47, more in 1344.94 points or 1.2pc, from the previous closure.
Yousuf M. Farooq, research director of Chase Securities, said: “Good corporate results have attracted a new institutional purchase.”
While the economy seems to return to the track, the current account deficit and the real exchange rate numbers published today have led some investors to believe that a devaluation of the Pakistani rupe could occur, Farooq said, and added that a Quick devaluation could contribute longer to longer -Thermal tability.
“The economy shows signs of recovery, with improvements in fuel consumption, motorcycle and car sales, although large -scale manufacturing is still slow,” he added.
More to continue
