- Web Desk
- 5 Hours ago
Stock market rises as geopolitical tensions decrease
- Web Desk
- Jan 19, 2024
KARACHI: During the current week the Pakistan Stock Exchange (PSX) showed fluctuations but managed to turn positive towards the end. The benchmark KSE-100 index had followed similar trajectory in the past week.
On Monday, PSX continued the gains from Friday in the morning but turned negative towards the day-end. Tuesday continued with the downward tide and Wednesday deepened it further.
Yesterday, the index responded to the geopolitical tensions early in the morning and slipped by over a 1,000 points. By the day end, the share market had partially recovered the losses when it closed at 63,202.40 points.
Yesterday almost the entire stock market was seen trading in red, with the border tensions with the neighbouring Iran accounting for the downward spiral. On Friday (today), the index turned positive on the back of dissolving tensions. With nearly 500 points improvement seen in the early morning, the index was seen hovering at 63,681.69 points.
Apart from this immediate cause, experts believe that IMF’s tranche arrival and Rupee’s recovery will offer strength to the investor sentiment.