- Web Desk
- 5 Hours ago
Tuesday adds to stock market gains, but slower
- Web Desk
- Jan 23, 2024
KARACHI: Pakistan Stock Exchange (PSX) closed on a positive note on the first trading day of the week, owing to the rally brought by the energy sector companies. Tuesday continued the gains, albeit on a lower degree than yesterday.
The index opened at 63,939.41 points and fell steeply to the day’s lowest at 63,549.60 points, before recovering. By 2 PM, the benchmark KSE-100 index was hovering at 64,432.21 points with 492 points gains during the day.
E&P companies remained the top performers with the energy sector trading in green for better part of the day. However, today the rate of gains was slower, and some companies from the energy segment plunged into red as well.
Last week, the index went through severe fluctuations following the geopolitical tensions on Pakistan-Iran border. However, with both countries now resuming diplomatic relations and reinstating the ambassadors the tensions have begun to resolve.
Last week the approval of IMF’s next tranche and Rupee’s recovery lent some strength to the index.