KARACHI: The Pakistan Stock Exchange (PSX) started the day at 93,224.56 points but faced early losses, shedding 280 points shortly after the market opened.
By 11am, the benchmark KSE-100 index had dropped to a low of 92,943.07 points.
However, the market reversed course in the afternoon, gaining over 560 points to reach 93,786.39 points by mid-day.
The stock market has been on an upward trajectory in recent sessions, hitting historic highs, driven by improving economic indicators.
Analysts attribute the bullish trend to several factors, including enhanced foreign investor sentiment following MSCI’s decision to add more Pakistani companies to its frontier markets index.
Moreover, local institutional funds have been flowing into the market, spurred by the State Bank of Pakistan’s recent policy rate cut of 250 basis points, reducing the rate from 15.5% to 15%.
The rise in remittances has also contributed to economic stability, further boosting market confidence and sentiment.
