Pakistan Stock Exchange registered yet another sharp rise

Pakistan Stock Exchange registered yet another sharp rise
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KARACHI – Pakistan Stock Exchange registered yet another big rise on third consecutive day.

PSX for the third consecutive session registered sharp rise of 2.3 percent over the reports that soon brotherly countries would also announce financial assistance for the country help bailing out from the economic mess boosting sentiments of the local mutual funds, banks and high net worth individuals.

However dollar movement at interbank was quite slow. It closed at 132.30 level as due to weakened importers and exporters stayed away from the market.

In open market dollar moved in a range of 131.30 to 131.80 level.

The market during the first session move both ways as there was no positive news which changed the pattern. However following the opening of second session the market received news that high power delegation from the United Arab Emirates has arrived and would talks with the Finance Minister Asad Umar and would explore investment possibilities.

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