KARACHI – *Pakistan Stock Exchange scores biggest win of 2019 with over1000 points gain.*
After days of volatile trading, the Pakistan Stock Exchange (PSX) made amuch-needed recovery on Wednesday and gained over 1,000 points.
The rise was attributed to reports that the government is mulling theestablishment of a market support fund in order to stabilise the exchange.Moreover, as per media reports, a positive response is expected from theFinancial Action Task Force team, which recently held meetings with thePakistani delegation in China. The clarity on the International MonetaryFund (IMF) programme also strengthened the investors’ confidence.
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The KSE 100 index benchmark logged in the highest single-day gain for 2019,as it surged by 3.62pc to reach an intraday high of 34,698.56. It closedhigher by 1,195.04 points at 34,637.14. The KMI 30 index surged by 2,673.88points to end at 55,866.34, while the KSE All Share index closed higher by711.71 points, settling at 25,529.10.
