Pakistan Stock Exchange surges as 100 index jumps nearly 3%

KARACHI: Pakistan Stock Exchange (PSX) witnessed a huge rally at the start of trading, as a result of which the 100 index rose by almost three percent.

The 100 index reached 155,037 after increasing by 2,297 points during trading.

The 100 index had a low of 154,969 and a high of 157,442 points during trading. Last week, Thursday, the 100 index closed at 152,740 points, after which the current rally has further strengthened the confidence of investors.

Experts say that the global financial and political situation has also had a positive impact on the market. US President Donald Trump announced a 5-day postponement of the attack on Iran’s energy facilities, after which not only the US and Europe but also Asian capital markets have seen a sense of happiness.

In Asian markets, Japan’s Nikkei rose 0.75 percent, Korea’s Kospi rose 2.5 percent, Shanghai Stock Exchange rose 1 percent and India’s Nifty 50 rose nearly 1.5 percent, which strengthened investment sentiment in the PSX.

Financial experts say that if global conditions remain favorable, there is a possibility of further growth in the Pakistan stock market.

This growth is not only a positive message for domestic investment but is also being considered a sign of restoration of confidence in the country’s economy.