LAHORE – In another positive development, Pakistan Stock Exchange bouncesback to record values with massive upward trend.
Pakistan stock exchange showed a massive upward trend in the last businessday of the current week. PSX 100 index jumped by 340.69 points today.
As per details, upward trend helped the market touch limits of 37300, 37400and 37500. This was owing to convincing trading of the shares by theinvestors who seemed optimistic and expressed their confidence over themarket.
It is important to note that in the first day of the current business week,market started with the rise of a handsome 824.94 points.
In the second day, market showed a slight negative trend of 37.54 pointsbut that was short-lived as in the third day a big jump of 401.40 pointswas observed.
The trend continued for the fourth and fifth day with rise of 76.24 and340.69 points respectively. Overall the week showed an upward trend in themarket. The rise on Friday was that of 0.91 percent.
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During trading at one point index touched the limit of 37634.75; however,this trend could not persist and the index closed at 37583.89 points withoverall rise of 340.69 points.
Economic experts opine that the bullish in stock market was indeed resultof end of political uncertainty. On the other side, successful negotiationwith IMF also boosted confidence of investors who whole-heartedly took partin the economic activity.
Among other reasons, one of them was the conclusion of JUI-F sit-in. Someexperts are of the view that World Bank (WB) report with regard to economicsituation and expected curtailment of interest rate also helped stockmarket to rise and live up to investors’ expectations.
