KARACHI - *Pakistan Stock Exchange scores biggest win of 2019 with over 1000 points gain.*
After days of volatile trading, the Pakistan Stock Exchange (PSX) made a much-needed recovery on Wednesday and gained over 1,000 points.
The rise was attributed to reports that the government is mulling the establishment of a market support fund in order to stabilise the exchange. Moreover, as per media reports, a positive response is expected from the Financial Action Task Force team, which recently held meetings with the Pakistani delegation in China. The clarity on the International Monetary Fund (IMF) programme also strengthened the investors’ confidence.
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 closed higher by 1,195.04 points at 34,637.14. The KMI 30 index surged by 2,673.88 points to end at 55,866.34, while the KSE All Share index closed higher by 711.71 points, settling at 25,529.10.