On April 9, the KSE-100 index breached the 70,000-point level for the first time, recording a gain of 694 points.
KARACHI: Pakistan Stock Exchange (PSX) opens at 70,483.66 points on Wednesday, after posting notable rallies for the past two days.
Yesterday (Tuesday), the benchmark KSE-100 index crossed the psychological barrier of 71,000 points, before deteriorating moderately to still close higher than the opening level of 70,544.58 points.
Previously, on April 9, the KSE-100 index breached the 70,000-point level for the first time, recording a gain of 694 points. Just a day earlier, it had reached a new high of 69,426 points after a remarkable surge of 1,203 points.
The continued growth in the stock market is indicative of stable investor confidence in the bourse, despite economic fluctuations. Some of the heartening factors include Finance Minister’s visit to the US for another International Monetary Fund (IMF) program, Prime Minister’s meetings with Saudi Arabian delegates hinting at FDI inflows, as well as strengthening Rupee against the US Dollar.
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On the flipside, the continued inflationary pressures along with rising petroleum and energy costs are also keeping downward pull on the investment climate in the country.
