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PSX gains 524 points amid presence of positive triggers

PSX gains 524 points amid presence of positive triggers

KARACHI: The KSE-100 Index of the Pakistan Stock Exchange (PSX) on Thursday continued to advance at a rapid pace for the fourth consecutive session by gaining 524 points and rising past the 31,000-point mark in the early trade hours. Till last report, the index stood at 31,497 points.

Investors resumed buying with renewed vigour as uncertainty of the past few days evaporated. The index shot up as soon as trading began.

The development triggered positive response from market participants, who were also encouraged by the rupee’s maintainable value against the dollar with slight fluctuations.

According to analysts, the recent simmering tensions between nuclear-armed Pakistan and India over Kashmir dispute have pushed certain investors to adopt cautious behaviour in the trading.

Besides, the stringent policies, implemented following passage of the financial budget for the fiscal year 2019-20, are reflecting themselves in the downfall of the stock market. Moreover, they have anticipated no improvement in the financial results of many companies.