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Saturday, July 2, 2022

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PSX posts highest-ever gain of 1,700 points


With the settlement of the prolonged political row in the country, the Pakistan Stock Exchange skyrocketed on Monday, as investors were observed celebrating the clarity on the political front stemming from the resignation of PM Imran Khan post no-confidence vote.

The benchmark KSE-100 index posted the highest-ever single-day gain of 1,700 points (in terms of index points) to settle above the psychological barrier of 46,000.

Bulls were seen maintaining their hold throughout the day, as the index remained in the green zone and witnessed massive buying activity across the board.

A fresh appreciation in the rupee value against the US dollar on Monday also instilled optimism among the market players and they opted to assume fresh positions on attractive valuations.

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