A bullish trend is being observed in the Pakistan Stock Exchange, with the benchmark KSE-100 index increasing by 754 points today, restoring the psychological barrier of 82,000.
According to the PSX website, the KSE-100 index reached 82,721 after a rise of 754 points or 0.92%, compared to its closing of 81,967 the previous day.
It’s worth noting that on September 30, the first day of the trading week at the Pakistan Stock Exchange saw a bearish trend, with the benchmark KSE-100 index dropping by 910 points. However, by the end of the trading session, the index had partially recovered, closing down 177 points or 0.22% at 81,114.
Ovais Ashraf, Director of Research at AKD Securities, stated that they expect the approval of the IMF loan program to have a positive impact on the economy, as it will stabilize external accounts.
Shahab Farooq, Director of Research at Next Capital Limited, attributed the negative trend to the overall situation in the Middle East.
Despite the IMF’s approval of a $7 billion bailout package on September 26, the initial trading during that period turned bearish, with the index falling by 589 points.
The day before, the benchmark KSE-100 index had seen an increase of 764 points, restoring the psychological barrier of 82,000.
