Stock market opens trading week on a positive note

Pakistan Stock Exchange closing

KARACHI: The stock market maintained a positive momentum through the past week, with momentary downturns. However, in sum total Pakistan Stock Exchange (PSX) remained poised for growth.

On Monday (today), the benchmark KSE-100 index opened at 64,514.89 points and grew to 65,069.43 points by 11 AM. Afterwards, the index deteriorated marginally and by noon, it was seen hovering at 64,846.24 points with 331 points gains.

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The growth in the index was not limited to any sector but the stocks seen leading the green movement mostly belonged to the energy and telecom sectors.

Investor speculation fueled by major earnings’ announcements expected for current week, forex and rupee’s stability and potential positive news from IMF’s tranche review in January, are all adding to the hopeful-uncertainty for the traders in the market.

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